Michael Giberson The sequel to the surprise-hit Freakonomics — I think the sequel is called Freako II: The Empire Strikes Back or something like that — is causing waves due to commentary on global warming in Chapter 5. I haven’t seen the book or read the leaked chapter 5, which is circulating online. I’m not …
Michael Giberson Tres Amigas is a proposed project to link the Eastern Interconnection, Western Interconnection, and the Texas Interconnection (ERCOT) by means of a high-tech three-way superconducting AC-DC-AC connection. You might wonder what economics has to say about such an unprecedented and innovative proposal. Consider this summary from Ralph Turvey, “Interconnector Economics,” Energy Policy, 34 …
Michael Giberson Cale Davis, in partial fulfillment of the requirements for the degree of Master of Science in Applied Economics at Montana State University, produced a thesis examining why some states do and others don’t have anti-price gouging laws. The abstract of “An Analysis of the Enactment of Anti-Price Gouging Laws“: Anti-price gouging (APG) laws …
Why Have 31 States Passed Anti-price Gouging Laws (and 19 Not)? Read More »
Michael Giberson The New Republic has an excellent article by Bradford Plumer about the current state of the electric power industry and the prospects of the industry achieving what diverse interests expect of it. (Yes, in TNR, who’d a thunk it?) The article highlights the political economy of regulated electric utilities and their immense lobbying …
Private Wires and the Electric Power Industry You Want Read More »
Michael Giberson A high-profile, high-technology power project is making waves well beyond the small town of Clovis, New Mexico, where it has secured land for development. I’ve been telling my students and anyone else I can induce to listen to me for a few minutes (i.e., mostly just my students) that my new hometown of …
Tres Amigas Project Proposes to Connect Eastern, Western, and Texas Power Grids Read More »
Michael Giberson Among the news stories in response to Elinor Ostrom’s sharing of the Nobel prize for economics, an article from Alaska which mentions the important role played by Vincent Ostrom in the development of that state’s treatment of natural resources. Both Ostroms worked on related ideas and management of natural resources was central to …
Vincent and Elinor Ostrom and Public Ownership of Natural Resources Read More »
Michael Giberson From the New York Times, “New Way to Tap Gas May Expand Global Supplies.” Italian and Norwegian oil engineers and geologists have arrived in Texas, Oklahoma and Pennsylvania to learn how to extract gas from layers of a black rock called shale. Companies are leasing huge tracts of land across Europe for exploration. …
Boom in Shale Natural Gas: Not Just for North America Read More »
Michael Giberson Last year, as crude oil and gasoline prices went on their wild ride, gasoline prices in Alaska took a somewhat different path than prices in the lower 48 states. For years, average prices in Alaska were about the same as the U.S. average price. Higher costs of delivery in Alaska were mostly offset …
Michael Giberson Over two years ago, the state of Kentucky filed suit against Marathon Oil claiming the company engaged in price gouging in the wake of Hurricanes Katrina and Rita. (Cynics noted that the lawsuit was filed shortly before a primary election in which the Attorney General at the time was running for Lt. Governor.) …
Michael Giberson A short Associated Press item from last week provides a perfect illustration of the near-meaninglessness of the daily post-market story interpreting price moments. Natural gas prices tumbled yesterday after the government reported the United States is using so little that it has more in storage now than at any other time on record. …
The Future of Natural Gas Prices: a View from October 2009 Read More »
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