Russ Roberts on “Price Gouging”

In this commentary on NPR’s Morning Edition on Friday, Russell Roberts explains how oil companies cannot “gouge” us with high gas prices. You can also read a transcript of the commentary. Here’s the intro, to entice you to read the whole thing: Whenever gas prices go up, we hear about the power of oil companies … More Russ Roberts on “Price Gouging”

Economic Costs of High Oil Prices, and Benefits

This Christian Science Monitor article and this Economist article provide some insightful analysis on the economic costs of high oil prices. Regular readers of this page will already know much of what’s contained in these articles — the unfortunate concatenation of Venezuelan unrest, possible war in Iraq, and an unusually cold winter in the US … More Economic Costs of High Oil Prices, and Benefits

Consumer Choice and Green Power

And here’s a cool article from last week on electricity customers in Washington state choosing green power and being willing to pay more (typically $5 more/month) for it. Funny how giving consumers choices creates value for both producers and consumers … yes! The world is positive sum! And companies can make money by offering services … More Consumer Choice and Green Power

Multi-dimensional Consumer Vehicle Preferences

Check out this AP story from Saturday on consumer demand for hybrid vehicles. The article makes what I think is the correct point — when consumers choose a vehicle, they are simultaneously satisfying a large array of preferences and characteristics, not just fuel economy or reducing our dependence on foreign oil. So what will be … More Multi-dimensional Consumer Vehicle Preferences