Does the Wall Street Journal Employ Anyone Who Understands Energy Markets? Three Rejoinders

Michael Giberson In Grist, Adam Browing asks, “Does the Wall Street Journal employ anyone who understands energy markets?”  Browning’s question and his answer seem just a little off, as I’ll discuss below, but first an excerpt from Browning: Actually, I think they do.  I think Keith Johnson knows quite a bit about energy markets.  Which … More Does the Wall Street Journal Employ Anyone Who Understands Energy Markets? Three Rejoinders

Friday Football Notes from Chris Dillow

Michael Giberson At Stumbling and Mumbling Chris Dillow ruminates on “Norms, agency, and competition,” which is just some fancy econo-speak for a post about why football coaches prefer conventional strategies that reduce the chance of their team winning.  Dillow notes David Romer’s work (via James Kwak) on American football, which shows coaches punt too often … More Friday Football Notes from Chris Dillow

The Trouble with Two-Handed Economists

Michael Giberson An economist is quoted in Platts’ Megawatt Daily commenting on a proposal within ERCOT to apply the same performance standards to wind farms as apply to other generators: On the one hand, it is desirable to have all market players working under the same rules, but on the other hand, rules are usually … More The Trouble with Two-Handed Economists

New Oilfield Shifts Supply Curve, but Slowly

Lynne Kiesling This Marketplace story from Wednesday does a really good job of explaining the fundamental economics of new oil field discovery. The context for the story is BP’s discovery of a new oil field in the Gulf of Mexico, one of the largest discoveries in the past two decades. Part of the challenge, though, … More New Oilfield Shifts Supply Curve, but Slowly