Do people who buy more expensive vehicles drive more? At first, the answer to that question seems obvious. Within a certain income group, people who are going to spend a … Continue Reading Sunk Costs and Driving Decisions?
One of the many perks of being a professor is that we get to choose where we spend our summers. I often take my family to the home of soccer, … Continue Reading Diesel me this, Diesel me that.
Indonesia has been in the news this week for taking an important step in the right direction with energy pricing. Prior to last week, Indonesia had some of the lowest … Continue Reading A Step in the Right Direction for Indonesia
This figure plots gasoline prices for 44 countries. These are domestic consumer prices including all relevant taxes and come from a survey administered November 2012. I have excluded countries with fewer than 25 million people, but if … Continue Reading Price at the Pump Worldwide
It’s the beginning of summer, which means the beginning of driving season. Perhaps anticipating summer driving, many people bought new vehicles last month, putting automakers on track to have the … Continue Reading The MPG Illusion
Since reading Catherine’s post last week (link here), I have been thinking a lot about Venezuela’s gasoline subsidies. Venezuela has the cheapest gasoline on the planet. At official exchange rates, … Continue Reading Venezuelan Gas Guzzlers
Here we go again. A couple refinery disruptions, a pipeline shutdown, and before you know it gas prices in California have jumped more than 50 cents compared to the rest … Continue Reading What (if anything) to do about California gasoline price spikes