London’s Congestion Charge

Arnold Kling mentions the success today of the new GBP5 congestion charge for driiving into London. Arnold also has a good discussion question: Why do economists like tolls so much? I plan on asking my Environmental Economics class that very question tomorrow afternoon (we are discussing tradeable emissions permits). Other links on the London congestion … More London’s Congestion Charge

How Arrogant and Condescending is This?

French President Jacques Chirac mouthing off with defensive and not-so-thinly veiled threats to would-be EU members, according to this AP story (courtesy of Glenn Reynolds. Some selections: BRUSSELS, Belgium – French President Jacques Chirac launched a withering attack Monday on eastern European nations who signed letters backing the U.S. position on Iraq, warning it could … More How Arrogant and Condescending is This?

The Revenue Effect of Oil Embargoes

Regarding the 1967 oil embargo, Yergin then goes on to say By July 1967, a mere month after the Six-Day War, it was clear that the “Arab oil weapon” and the “selective embargo” were a failure; supplies were being redistributed to where they were needed. … the formal emergency machinery for joint operations and antitrust … More The Revenue Effect of Oil Embargoes

An Interesting Quote From The Prize

THIS IS INTERESTING … In my more-thorough-than-first-reading revisit of Daniel Yergin’s The Prize: The Epic Quest for Oil, Money and Power, I have come upon this interesting paragraph describing the attempts of the U.S. government to coordinate oil supplies among Western countries in the face of the 1967 embargo (which was a consequence of the … More An Interesting Quote From The PrizeMore An Interesting Quote From The Prize

Is It About The Oil?

More on “is it about the oil?” at Instapundit, from Dave Winer, and from a reader who points our attention to the DOE’s Energy Information Administration’s Country Analysis Brief on Iraq. The EIA CABs are extremely useful and reasonably up-to-date; note that this one was last updated in October 2002. Note also that it gives … More Is It About The Oil?More Is It About The Oil?

Delong On Reading The History Of Economic Thought

This Brad DeLong post on reading the classics of economic thought is wonderful. Brad uses a Machiavelli letter to illustrate an important point — reading the classics in a body of thought give depth and nuance to your understanding of the current state and practice of methodology. I teach history of economic thought, and I … More Delong On Reading The History Of Economic ThoughtMore Delong On Reading The History Of Economic Thought

More On Iraqi Oil

On Tuesday in the Houston Chronicle, Michael Economides addressed the question of the US taking control of Iraqi oil fields in a post-Saddam scenario. He argues that according to existing international law, such an act would be a war crime. Some aspects of such an act would also contradict the Administration’s stated position (via Colin … More More On Iraqi OilMore More On Iraqi Oil

What A Pest

Yes, it’s 6:45 here in Chicago and I’m wide awake. I can thank the Lumpen ProletariCAT for that one. Good thing she’s cute, she’s such a pest. … More What A Pest

Transportation Costs and Trade

The comments section of Megan McArdle’s post “Whither Iraqi Oil?, which I mentioned yesterday, has had an interesting conversation going on. One of the commenters, Patrick Sullivan, made a crucially important point about both the role of transportation costs and the role of trade in creating prosperity (regardless of whether or not you have lots … More Transportation Costs and Trade


I am trying to stay at arm’s length from advocacy for or against going into Iraq (for many reasons, including the deep philosophical conflicts that Will Wilkinson articulated beautifully in this post). I do, though, keep up with goings-on in oil and natural gas industries, so I have a pretty good idea of who has … More Coincidence?More Coincidence?