Oil’s well
Mar 7, 2007 Gelt, Medialites
TigerHawk is impressed that even the New York Times admits that the oft-repeated, largely political trope that “oil production has already peaked” is certainly baloney. Tim Blair calls its adherents “abundance denialists” (cleverly paralleling Ellen Goodman).
All you had to do was read anything by Julian Simon back when we were in college to know what rubbish all the “we’re running out! we’re running out” business is. It was guys like Simon who inspired me to major in economics — a discipline founded on dismally mistaken premises about scarcity, but which overcame its humble beginnings and became remarkably good at modeling, understanding and predicting how stuff we need comes to the market and why.
But TigerHawk and Blair are on the money about the cultural point: When even the Times writes the obituary of an exercise in sloppy liberal economics, that well has for sure run dry.
March 7th, 2007 at 11:18 pm
An Economics major!?!?!
Now its all starting to make sense….
March 8th, 2007 at 12:27 am
I take that as a compliment.
March 8th, 2007 at 9:15 am
Notwithstanding,
I burn B5 biodiesel in my 2006 VW Jetta TDI. And my last gasser is 1994 Ford Aerostar AWD with a quarter-million miles on the odometer, that I turned over free of charge to one of my kids. He makes a lot of money as a junior artist in an animated games studio in Middleton, Wisconsin. So he can afford to pay for all the gasoline that old steel pig uses.
Arnold Harris
Mount Horeb WI