The comments section of Megan McArdle’s post “Whither Iraqi Oil?, which I mentioned yesterday, has had an interesting conversation going on. One of the commenters, Patrick Sullivan, made a crucially important point about both the role of transportation costs and the role of trade in creating prosperity (regardless of whether or not you have lots …
I am trying to stay at arm’s length from advocacy for or against going into Iraq (for many reasons, including the deep philosophical conflicts that Will Wilkinson articulated beautifully in this post). I do, though, keep up with goings-on in oil and natural gas industries, so I have a pretty good idea of who has …
Gas prices spike in the Bay Area, home heating oil prices are high due to oil prices and cold weather, and the IEA continues to be worried about short-term oil supplies. This FT article on the low US crude supplies reiterates much of what I posted yesterday, but it also refers to the fact that …
A recently-released manifesto,spearheaded by UC-Berkeley’s Institute of Management, Innovation & Organization, provides another call for market forces in California’s electricity industry in the face of increasing regulation and debt-laden utilities and generators. I have provided the press release below, and it is also available at the RPPI website. The full text of the manifesto and …
According to this Bloomberg Energy story, the Energy Department reports that domestic gasoline inventories are unexpectedly high. The effect of these inventories is depression of oil prices today. But the story doesn’t give any detail on whether or not the increased inventories are due to production increases, consumption declines, or a combination of both. I …
Megan McArdle has a good post on the future of the Iraqi oil industry and why oil-rich countries tend to be illiberal (my wording, not hers). Both her insights and the comments on her post are worth reading, as is the Washington Post article she references.
Bravo! to Susan Lee for her articulation of the important distinctions between conservatism and libertarianism, particularly in cultural dimensions. An excerpt: To push my argument further, libertarian thought, with its fluid cultural matrix, offers a better response to some of the knottiest problems of society. It is, especially when contrasted with the conservative cultural matrix, …
Data on OPEC’s January production from Platts shows that production went up by 500,000 barrels/day. Not enough to compensate for Venezuela’s lack of production, thus the price rise from around $32 to around $35.
Upon the completion of her first knitted sock, Bonne Marie Burns asks “what the heck does *gusset* mean anyway?” gusset n. A triangular piece of material let into a garment to strengthen or to enlarge some part, esp. in order to afford ease in movement. One of the usage examples they offer is splendid: c1570 …
According to the OED: calyx n. The whorl of leaves (sepals), either separate or grown together, and usually green, forming the outer envelope in which the flower is enclosed while yet in the bud. corolla n. The whorl of leaves (petals) either separate or grown together, forming the inner envelope of the flower, and generally …
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