Are Oil Prices Too High?

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?

Why Are Food Prices So 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?