Technological advances and learning-by-doing have made U.S. shale oil profitable even at $55/barrel. Just ten years ago shale oil was expensive. Global oil prices spiked to $135/barrel in 2008 but … Continue Reading Learning to Frack
I spend a lot of time describing unicorns in my undergraduate classroom. And by unicorns, I mean perfectly competitive markets and their features. If you’re a little rusty on this … Continue Reading Cartels Work Unless They Don’t
Both Max and Lucas have recently written on this blog about the need to price gasoline appropriately. I agree with them…mostly. I mean, how could I disagree with them? I’m … Continue Reading Driving Taxes for the 21st Century
Readers of this blog are likely aware that oil is really cheap right now. While in July 2008, the U.S. benchmark price peaked at just above $140 a barrel, its … Continue Reading Gas is too cheap
It just doesn’t add up. Why I think not building Keystone XL will likely leave a billion barrels worth of bitumen in the ground.
I am not a fan of blanket statements. Whenever oil sands come up in casual conversation, many of my economist friends argue that “the stuff will come out of the … Continue Reading It just doesn’t add up. Why I think not building Keystone XL will likely leave a billion barrels worth of bitumen in the ground.