Here’s an article from Oil and Gas Journal that describes some outlooks and forecasts for oil and natural gas markets, from energy experts at Cambridge Energy Research Associates. Punchline: oil prices will fall over the course of this year, but US natural gas prices will increase as supplies strain to keep up with increased demand …
On Wednesday, Exxon Mobil will load Venezuelan oil onto a tanker, the first US oil company to do so since 2 December.
Arnold Kling mentions the success today of the new GBP5 congestion charge for driiving into London. Arnold also has a good discussion question: Why do economists like tolls so much? I plan on asking my Environmental Economics class that very question tomorrow afternoon (we are discussing tradeable emissions permits). Other links on the London congestion …
French President Jacques Chirac mouthing off with defensive and not-so-thinly veiled threats to would-be EU members, according to this AP story (courtesy of Glenn Reynolds. Some selections: BRUSSELS, Belgium – French President Jacques Chirac launched a withering attack Monday on eastern European nations who signed letters backing the U.S. position on Iraq, warning it could …
Regarding the 1967 oil embargo, Yergin then goes on to say By July 1967, a mere month after the Six-Day War, it was clear that the “Arab oil weapon” and the “selective embargo” were a failure; supplies were being redistributed to where they were needed. … the formal emergency machinery for joint operations and antitrust …
THIS IS INTERESTING … In my more-thorough-than-first-reading revisit of Daniel Yergin’s The Prize: The Epic Quest for Oil, Money and Power, I have come upon this interesting paragraph describing the attempts of the U.S. government to coordinate oil supplies among Western countries in the face of the 1967 embargo (which was a consequence of the …
More on “is it about the oil?” at Instapundit, from Dave Winer, and from a reader who points our attention to the DOE’s Energy Information Administration’s Country Analysis Brief on Iraq. The EIA CABs are extremely useful and reasonably up-to-date; note that this one was last updated in October 2002. Note also that it gives …
This Brad DeLong post on reading the classics of economic thought is wonderful. Brad uses a Machiavelli letter to illustrate an important point — reading the classics in a body of thought give depth and nuance to your understanding of the current state and practice of methodology. I teach history of economic thought, and I …
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On Tuesday in the Houston Chronicle, Michael Economides addressed the question of the US taking control of Iraqi oil fields in a post-Saddam scenario. He argues that according to existing international law, such an act would be a war crime. Some aspects of such an act would also contradict the Administration’s stated position (via Colin …
Yes, it’s 6:45 here in Chicago and I’m wide awake. I can thank the Lumpen ProletariCAT for that one. Good thing she’s cute, she’s such a pest.
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