In a comment on one of my gasoline posts below, Barry Posner made some great observations about refinery capacity that are so good that I’m going to pull them out and post them here. I have been abstracting from refinery capacity in recent discussions of gas price fluctuations, because it has been a constraint for …
My favorite movie of all time is being re-released! Monty Python’s Life of Brian will be re-released at the end of April. The producers say they are doing this as a “Passion of the Christ” antidote. I don’t care why they’re doing it just that they are! I’ve only ever seen it on the big …
An article from the Minneapolis Star-Tribune on how the inflation-adjusted price of gasoline is not at a record high. Note his last quote from a source: “The market is going to take care of this.” BTW, I agree with Kevin Brancato’s comment here last week, laying some of the responsibility for the economic illiteracy of …
C’mon, people, doesn’t anyone know how to use a GDP deflator? Certainly the journalists writing articles like this at the Washington Post and the various and sundry wire services that have been feeding hyperbole to their readers have demonstrated their complete and utter inability to process the difference between real and nominal prices. Why don’t …
This Technology Review article on hybrid and hydrogen vehicles explains why hybrid vehicles will have commercial dominance over hydrogen for the forseeable future. It’s a good read, one that I wanted to comment on anyway and an intrepid reader alerted me to as well. The argument in this story also makes a lot of the …
Check out this oil price primer from Frederick Leuffer in the National Review. Lots of good information there. I particularly like that his answer to “are we running out of oil?” is a curt “No”.
According to lots of news over the past couple of weeks, that’s what a lot of folks are doing. Forbes, for example, had this feature on “pump-busters”, where they showcase fuel efficient vehicles of all types and sizes. They also break down the component costs of a gallon of fuel: But what exactly are you …
One of the refreshing and creativity-inducing things for me about the Internet is reading well-written essays by people who think about the same kind of issues as I do, but with their own perspective and je ne sais quoi. I reveled in such a find yesterday, upon reading The Idea Shop. There Andrew David Chamberlain …
Being systematic, here are the primary reasons for the rise in gasoline prices in March 2004: 1. High world crude oil prices. These prices are partly the consequence of conscious OPEC supply constriction to raise price. OPEC?s ability to do so is typically constrained by three interrelated factors: the world demand for oil, cheating on …
In spring, our thoughts typically turn to ? the seasonal increase in gasoline prices (what did you think I was going to say?). It all started with this New York Times article on 6 March, which noted that consumers are complaining about high and rising gas prices. They concisely summarized the most apparent causes of …
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