Michael Giberson No doubt consumers think oil prices are too high. For the moment I’m wondering if oil prices are too high even for OPEC. High prices induce a number of adjustments, some of which have long term repercussions. Last time there was an oil price shock at all comparable to the present was around … More Are Oil Prices Too High? … More Are Oil Prices Too High?
Michael Giberson We’ve played the food-into-fuel answer to the title question in previous posts, but Ajay Shah posts a deeper, more thoughtful explanation in which biofuel subsidies and mandates just barely warrant a mention. He is not persuaded by the hypothesis that the “pike in world food prices is caused by increased demand in China … More Why Are Food Prices So High? … More Why Are Food Prices So High?