Nick Schulz On Energy Policy

Nick Schulz from TechCentral Station and Transition Game has an article in today’s National Review Online, in which he discusses gas prices and Kerry’s energy policy suggestions. In addition to referencing yours truly, for which I am exceedingly grateful, he makes a lot of good points about these subjects and how likely Kerry would be … More Nick Schulz On Energy PolicyMore Nick Schulz On Energy Policy

OPEC News Update

More on OPEC’s new attempt to restrict its production and the federal government reactions, from the New York Times (link courtesy of Megan McArdle), Forbes, and PBS’s Newshour Online. … More OPEC News Update

Thanks Virginia!

Many thanks to Virginia Postrel for the link. Note that she observed a reduction in driving in LA in this period of high gas prices. Yes, the demand for gasoline is inelastic, but it’s not vertical/perfectly inelastic! Note also her post that suggests that it could be 1996 all over again in terms of the … More Thanks Virginia!More Thanks Virginia!

Just To Reinforce That Refinery Point …

Last night there was an explosion at the third-largest petroleum refinery in the US. Fragmented fuel markets as a result of the patchwork of 40+ fuel formulations in the US to meet federal+state air quality reguations has created an environment in which our refinery industry has little fault tolerance. Put another way, when unexpected stuff … More Just To Reinforce That Refinery Point …More Just To Reinforce That Refinery Point …

Here’s Your Daily Gas And Oil Update

Let the demagoguery begin! Let it know no bounds, nor be the private purview of either major political party. One the one hand, John Kerry makes several “proposals” for reducing gas and oil prices, which are of course President Bush’s fault, ably summarized in this Houston Chronicle article. Kerry’s suggestions are laughably unrealistic and unlikely … More Here’s Your Daily Gas And Oil UpdateMore Here’s Your Daily Gas And Oil Update

Mike Giberson On Gas Prices

A guest post from my colleague Mike Giberson: In response to your ENOUGH ALREADY ON “RECORD HIGH” GAS PRICES, note that the Washington Post does, on occasion, adjust for inflation in its commentary on gasoline prices: For one, it is worth pointing out that gasoline prices, while higher than a few years ago, are still … More Mike Giberson On Gas PricesMore Mike Giberson On Gas Prices

Crumb Trail On Energy Use In Biofuels

Run, don’t walk, to back40’s house at CrumbTrail to read this post and the article to which he links on the dubious reasons for claiming that biofuels are renewable. It has bothered me for a long time that no one has really quantified the entire supply chain in modern biofuels, including all of the attendant … More Crumb Trail On Energy Use In BiofuelsMore Crumb Trail On Energy Use In Biofuels

Coasean Bargaining, Buffalo, And Fish

OK, I’m going to rise to Ray Gifford’s bait, being the new institutional economics econ-geek that Ray believes me to be … the essay that he links to by Eric Gunning on the potential and the pitfalls associated with Coasean bargaining is a good, concise treatment of the subject. I encourage you to follow his … More Coasean Bargaining, Buffalo, And FishMore Coasean Bargaining, Buffalo, And Fish

The Labor Theory Of Value

I owe a ginormous (as Trinny and Susannah would say) debt of gratitude to Brian Doss at Catallarchy for posting the link to this online FAQ about the labor theory of value. The students in my next history of economic thought class will be the most appreciative though, because they’re the ones who won’t have … More The Labor Theory Of ValueMore The Labor Theory Of Value

Bundling As A Rationale For Regulation? I Should Think Not

I am really glad that folks around here have picked up this bundling conversation. See, for example, Stephen Bainbridge’s observations, who argues that bundling is anticompetitive. I disagree, as long as the consumer has an opportunity to say “no” and use something else. And of course under the usual dynamics of R&D and competition, some … More Bundling As A Rationale For Regulation? I Should Think NotMore Bundling As A Rationale For Regulation? I Should Think Not