The price of crude oil has fallen more than 50% since summer and drivers are responding exactly as economists would predict. Americans are driving more, the market for SUVs is … Continue Reading Oil price crash shows the challenge of breaking addiction
U.S. crude oil production has reached almost 9 million barrels per day, driven by enormous production increases in the Permian, Eagle Ford, and Bakken formations. This is one of the … Continue Reading Goin’ for Broke in Texas…Protecting the Environment without Slowing Economic Growth
While environmental groups and other stakeholders have been working hard to delay – if not derail- major pipeline projects like Keystone, oil companies have been working hard to find alternative … Continue Reading Shipping oil by rail: A modern-day problem of social cost
It feels at times as if opposing the XL pipeline requires one to give up their keys to the Energy Institute executive washroom. Chris Knittel has argued that stopping XL … Continue Reading Is an economist allowed to oppose the XL pipeline?
• For much of the last 40 years US politicians have railed against the countries of OPEC for restricting exports of oil for their own economic gain. Just 7 years … Continue Reading “We’re for Import free trade, just not Export free trade”
Last week Mitt Romney released a new energy plan (available here). The plan includes a proposal to reduce federal oversight of oil and gas drilling on public lands. National standards for … Continue Reading Optimal Federalism
For the past few years, the Renewable Fuels Association (RFA) has been claiming that U.S. production of corn ethanol has had massive benefits for consumers by lowering the cost of … Continue Reading Moving the Energy Debate Away From Nonsense