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 Policy … More Nick Schulz On Energy Policy
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
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!
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 …
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 Update … More Here’s Your Daily Gas And Oil Update