One of the most important dynamics in market processes is how high prices induce suppliers to either enter the market or, if they’re already in the market, to invest in expanding their production capacity to capture the profits available due to higher prices. In the current environment with high and volatile oil prices, you’d expect …
A Rough Measure Of Increased Prices Inducing Entry Read More »
I’ve got a review of Joel Mokyr’s The Gifts of Athena on Tech Central Station today. Read the review, read the book.
Is the strike almost over? Is Chavez going to prevail? Apparently Chavez has fired 3,000 oil company (PDVSa) executives, but Chavez opponents are meeting with officials from other Latin American countries and the US to see if they can persuade an international coalition to work on their behalf. The resumption of tanker shipments this week …
BRRRRR chilly! It’s a good day to work at home, swaddled in polarfleece and homemade alpaca socks. Bonne Marie Burns at ChicKnits certainly knows how to approach a Chicago cold spell. For her the tough wear mohair, for me the tough wear alpaca (and high-tech soft goods made of Gore windstopper fleece). And drink lots …
While I’m tooting my own horn, I should mention this Philadelphia Inquirer article by Akweli Parker on the prospects for oil and gas prices and supplies if we do go into Iraq and Venezuela continues to be unpredictable. He interviewed me as well as a host of much more knowledgeable people, and put together a …
A Good Article On Oil Markets, With A Soupcon Of Self Promotion Read More »
This article from Tuesday’s Orange County Register summarizes where we are in trying to get beyond the electricity policy failures in California. The article cites the $8.9 billion in refunds that California policymakers think they are owed, a number I discussed in reference to FERC Judge Birchman’s estimate of refunds in this post. Also today, …
More Analysis And Drama In The Never-ending California Electricity Crisis Read More »
While I’m making reading recommendations, let me belatedly recommend this Reason Online article by Jonathan Rauch on fuel cells. He’s a fantastic writer (this article is very much in the same tone as his outstanding April 2002 Atlantic Monthly article on computer-generated artificial societies as a tool to understand migration and the demise of Anasazi …
This spectacular article by Arnold Kling in Tech Central Station today analyzes the roles that content intermediaries play, and how those roles evolve over time and with technology. He succinctly captures the dynamics of the situation with the concept of Bayesian filtering, and he also points out (accurately, I think) that one particularly valuable role …
I am generally not an overly sentimental or romantic person, but when it comes to my adopted hometown (I’m from Pittsburgh originally, so yes, I was depressed Saturday night) I tend to wax lyrical and poetic. For me Chicago symbolizes much of what is important, valuable, and beautiful about human creativity and the human spirit …
As expected, yesterday OPEC members chose to raise their production by 1.5 million barrels/day.
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