Oil production in Pennsylvania

Michael Giberson James Hamilton posts on “Peak oil in Pennsylvania” at Econbrowser, drawing from a few historical surveys and presenting this chart from Michael Caplinger, “A contextual overview of crudeoil production in Pennsylvania.” Pennsylvania crude oil production, 1859-1990, in millions of barrels per year. Source: Michael Caplinger (1997) via James Hamilton at Econobrowser Caplinger’s report … More Oil production in Pennsylvania

Unfair prices for holiday air travel in India? Any lasting effects?

Michael Giberson Leigh Caldwell, at Knowing and Making, notes concerns raised by representatives of India’s government about unfair airline prices during the festival of Diwali.  Caldwell mostly ignore the government’s chatter about unfair prices, but wonders how consumer reactions may influence company pricing decisions over time.  I think he offers interesting speculations, but I think … More Unfair prices for holiday air travel in India? Any lasting effects?

Ethanol comments supply evidence that Al Gore will never again run for office

Michael Giberson I suppose Al Gore is enjoying life and never expects to run for public office.  Clear evidence of this fact? His recent comments on ethanol: “It is not a good policy to have these massive subsidies for (U.S.) first generation ethanol,” said Gore, speaking at a green energy business conference in Athens sponsored … More Ethanol comments supply evidence that Al Gore will never again run for office

U.S. companies getting into the LNG export business

Michael Giberson More evidence that shale gas development is changing the international (not just the United States) natural gas market: A US LNG terminal is spending $2 billion to add export capability.  Currently Freeport LNG has the capability to re-export stored LNG; the new investment will add the capability to liquefy US-produced natural gas. Last Friday, November 19, … More U.S. companies getting into the LNG export business

Confusopoly (with a note on retail gasoline market strategies)

Michael Giberson In case you missed it: a little economics courtesy of Scott Adams and Dilbert: Some economists have asserted that Edgeworth competition in retail gasoline markets involves a variant of this strategy. If the same retail store always had the lowest price, even the most confused customer would eventually figure it out. Keep the … More Confusopoly (with a note on retail gasoline market strategies)

Glamour and policy – Virginia Postrel in the WSJ

Michael Giberson Have you noticed images of wind turbines appearing in ads for everything from cars to banks to university programs? For many people, wind turbines have a kind of stately grace, a beauty, a high-tech glamour. In the Wall Street Journal, Virginia Postrel claimed that wind power (and high-speed rail) gets a public-policy boost from the … More Glamour and policy – Virginia Postrel in the WSJ