Economics

Answer: $50

What does a barrel of crude oil cost, Alex? Crude went to a record $50 yesterday. According to the NY Times: Fueling these gains is the alignment of three events: record high demand, historically low spare production capacity, and a set of potentially destabilizing events in some of world’s the top oil-producing regions, including Iraq and Venezuela, to name only ...

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How Do We Prepare for a World Without Cheap Oil?

It appears this business of end of cheap oil is getting more attention. The title above comes from an article from a Harvard Business School e-newsletter I got this morning. The meme is getting around. So I pose the same question to the ACS: How do we prepare for a world without cheap oil? The reason I ask is because ...

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Think I'll increase my meds

So why hyperventilate, as I have, on FISpace—a blog re Society-related things—about possible oil supply peaks and about senior citizens edging-out teens for crappy jobs? Well, to me these are indicators about Mother’s Milk, about the stuff that makes the world go ‘round—money. For me it all goes back to a remark in one of Ed Duke’s original posts about ...

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Fill 'er up?

Let me nominate the following as perhaps the most important comments made in the year 2004: Kenneth S. Deffeyes, a Princeton University geologist, speaking at the American Chemical Society meeting said, for Thanksgiving 2005: “Give thanks for a century of cheap and plentiful oil…The exploration game is essentially over…We are unable to find new oil at the rate society or ...

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