Lynne Kiesling Mr. Coyote has a post from last week (complete with good links) on that mythical economic concept: price gouging. There are two ways this can play out: 1) a short term spike in prices, as much as a dollar or more a gallon or 2) long and irritating gas lines. Lets hope that …
Lynne Kiesling Last week on vacation we stayed in a paddle-in cabin 20 miles northeast of Ely, Minnesota. No phone, no television, no computer, hence no information on the horrific consequences of hurricane Katrina. We ventured into town twice for dinner, once on Monday (when we saw a newspaper and saw the looming threat) and …
Lynne Kiesling This was the view from our cabin “up north” in the Boundary Waters: We saw lots of loons, otters, beavers, bald eagles, mergansers, etc. We did not see moose, much to our consternation. And we saw canoeists; we four were pretty much the only kayakers in our area. The landscape was beautiful, and …
Lynne Kiesling I am outta here, headed on a week’s vacation to the Boundary Waters in Minnesota. No computer, no cell phone reception, so no LK KP. Mike will soldier on here while I’m gone. But please keep talking! I love seeing the conversation that has started. TTFN!
Lynne Kiesling OK, Manhattan in hand … here’s an analysis that improves on the first one. I’ve taken the ratio of [gasoline price x gasoline quantity] to median household income. The gasoline quantity data are from Table 5.13a of the DOE’s Annual Energy Review 2004, in thousands of barrels. Table 5.13a reports “estimated petroleum consumption, …
An Even Better Statistic on Gasoline Household Spending Read More »
Lynne Kiesling OK, last word before I go make that Manhattan … contrary to what Glenn said in his follow-up post, I have no enthusiasm for ethanol as a fuel! Except for when it’s taken internally from a bottle with a red polymer top …
Lynne Kiesling OK, here’s the data to show that relative to median household income, gasoline prices have fallen: Data used to create figure: Median household income data for 1980-2000 from Table H-11 of Census historical statistics, in current dollars Median household income data for 2001-2003 from Table H-8 of Census statistics from the Current Population …
Lynne Kiesling In KP’s three years of life there’s been a lot of coverage of oil and gasoline markets, and some dominant themes have persisted: The unintended consequences of price caps are usually pernicious. Environmental regulation, in this case in the form of the EPA federal fuel oxygenate requirement, causes balkanization of regional gasoline markets, …
Summary of Reasons Why Oil and Gasoline Prices Are Currently So High Read More »
Lynne Kiesling I recommend reading Mr. Coyote’s post on the Hawaii price cap over at Coyote Blog. Very nice commentary. And thanks for the kind words!
Lynne Kiesling Glad to have ya! So this is what happens when you get Instalanched andFarked …
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