Lynne Kiesling Andy Morriss (Univ. of Alabama Law School) and Don Boudreaux (George Mason University) have an excellent op-ed in today’s Wall Street Journal, A Coca-Cola Solution to High Gas Prices. The punch line: environmental fuel formulation regulations balkanize wholesale fuel markets and make prices more volatile as a consequence. This is not a new …
Obsolete Boutique Fuels and Failure to Arbitrage Read More »
Lynne Kiesling Last week while I was off philosophizing, the Federal Trade Commission released a new report on the factors that influence retail gasoline prices (hat tip to Todd Zywicki). The FTC watches retail gasoline prices carefully, and every spring like clockwork when prices go up and my Senator (that would be Dick Durbin) rails …
Lynne Kiesling This summer, corn prices are high. Drought, extreme weather, and other factors combine to increase corn prices, and one of those factors is the federal ethanol mandate/renewable fuels requirement implemented over 20 years ago (as an oxygenate requirement) and extended in 2005. Roger Pielke Jr. points to a Purdue research paper that suggests …
Can We Finally Get the Ethanol Mandate Monkey off of Our Backs? Read More »
Lynne Kiesling The following is a post I wrote in March 2004 about the regular, annual, seasonal rise in gasoline prices that always occurs at this time of year. I am reposting it here because it generally still applies, and I am inserting some updated comments in bold below. Being systematic, here are the primary …
In a comment on one of my gasoline posts below, Barry Posner made some great observations about refinery capacity that are so good that I’m going to pull them out and post them here. I have been abstracting from refinery capacity in recent discussions of gas price fluctuations, because it has been a constraint for …
Virginia Postrel’s written a must-read Economic Scene column in today’s New York Times. Its topic is specialization, and specifically the move away from vertical integration in the structure of many industries. Technological change has contributed to making this move possible and profitable. There’s a large field in new institutional economics that explores precisely this dynamic. …
Virginia Postrel’s written a must-read Economic Scene column in today’s New York Times. Its topic is specialization, and specifically the move away from vertical integration in the structure of many industries. Technological change has contributed to making this move possible and profitable. There’s a large field in new institutional economics that explores precisely this dynamic. …
Virginia Postrel’s written a must-read Economic Scene column in today’s New York Times. Its topic is specialization, and specifically the move away from vertical integration in the structure of many industries. Technological change has contributed to making this move possible and profitable. There’s a large field in new institutional economics that explores precisely this dynamic. …
Crude oil prices are the highest they’ve been in 12 years, and the Iraq situation is only one reason, as I’ve been saying for months and as this Business Week Online article points out. High oil prices and their translation into high gasoline prices have produced their usual response from Midwest politicians — a request …
Because no one in the Midwest (or anywhere else, for that matter) wants a refinery built next to them. Plus we have oxygenated fuel requirements, reformulated gasoline requirements, and some of us have state-level boutique fuel requirements. So gas prices in the Midwest are the most volatile in the whole country. See, for example, this …
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