Bye-bye WTI? Local conditions may sink global oil price benchmark

Michael Giberson Via email a reader asks about the divergence between two international oil price benchmarks – Brent and West Texas Intermediate (WTI). At EnergyBurrito, Matt Smith explains the once-reliable, now rocky relationship between Brent and WTI in “WTI and Brent Crude Oil Through Steve Carell and Ricky Gervais.” Gervais played district manager David Brent … More Bye-bye WTI? Local conditions may sink global oil price benchmark

Demsetz discusses Coase’s mistake on Pigou and social costs

Michael Giberson Last summer, Harold Demsetz spoke at the Property and Environment Research Center on Ronald Coase’s big mistake in “The Problem of Social Cost.” PERC has just posted the video. The article he is presenting is, “Fallacies in the Economic Doctrine of Externalities,” but I bet in the written article he doesn’t say, “what … More Demsetz discusses Coase’s mistake on Pigou and social costs