Planet Money buys oil, loses about $800 on the deal, and makes some great podcast journalism

The NPR economics podcast Planet Money offers a great five-part introduction to the oil business and the place it plays in our economy. Along the way they offer insights into prices and market processes, innovation and industry change, and the many uses of fossil energy. The five part series does not go deep, but the reporters do cover the ground thoughtfully.

And special bonus for co-blogger Lynne Kiesling, in part 5 of the series they talk to Northwestern University economic historian Joel Mokyr about how the U.S. economy might have developed without fossil fuels (and Harvard physicist and energy expert David Keith).

Each episode about 25 minutes long. Highly recommended.

Bonus: Follow up your listening with Episode 578: How To Steal A Million Barrels Of Oil, a story about getting oil from Nigeria to the world market, both legally and not.

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