Pent up demand

Is Cheap Oil Compatible with Growth?

Looking at barrels of oil per capita is a nonsense measure. Look at barrels per unit of GDP. The picture is probably a lot more sensible. Even then, if country A derives most of its GDP from energy intensive industries and country B does not, there can still be an imbalance.

It's similar to pollution. Most pollution has gone down over the last few decades in western countries while exploding in China and India. We pat ourselves on the back for being so responsible, when in fact all we really did was shut down our dirty industries and send them overseas.

Which Inflation Is It Anyway?

It matters because it's a form of theft. The lost value didn't just disappear; it went to those who got the newly minted money first.

What We Can Do To Reverse the Oil Crisis

Phil, make sure you wear a bib when you rant like that. Keeps the spit off your shirtfront.

Only These Three Things Can Halt Oil's Advance

Right, steveross. Except you forgot the part where some of the rebate money gets siphoned off to go to the usual causes.

Speculators would laugh at your castles in the sky and go right on betting on the futures.


Oil at these prices causes pain, no doubt. But it's the Saudis that should be worried, because these prices are making alternatives of any sort much more attractive.