Sunday, August 15, 2004

 

Another brief entry on oil

Hi all, another Sunday at work. I have a very definite goal today though, 6 schedules and then I leave. I'm thinking Hooters and SummerSlam over at the Imagine theater on the huge movie theater screen. I'm not really that into wrestling, but my friends in California will be exceedingly envious once they find out the mega experience I may be able to enjoy.

Anyway, before I hit the grindstone, I wanted to post a link to Asymmetrical Information and the latest post on the reduction of oil use and why "we are the world" should not be taken too seriously. I believe it was Glen over at Agorophilia who once pointed out (though I don't know if he posted it or not) that reduced use of oil in the U.S. would cause the facilities with the highest cost of production to shut down first (assuming it were to have any effect at all) which would be the facilities in the U.S. This would make us more, not less, dependent upon foreign oil.

I might also direct you to this entry from Prof Sproul's online textbook on the economics of exhaustible resources.

Carry on.


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