Posts Tagged ‘oil’

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    Oil Dilemmas

    Mar 4, 11 • 113 Views • Demand, Supply, and Markets, Environment, Households, Macroeconomic Measurement, Regulation, Thinking EconomicallyNo Comments

    The good news? We are driving more again–more miles than any year since 2007. The bad news? We are driving more again–more miles than any year since 2007.. Here are the facts from a WSJ article. With the recession and higher gas prices,...

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    A Race Between Supply and Demand

    Feb 7, 11 • 107 Views • Demand, Supply, and Markets, Developing Economies, Economic Debates, EnvironmentNo Comments

    In a wonderful Chip Bok cartoon, a child starts by asking, “Why are gas prices so high?” and is told, “Turmoil in the Mid East.” Then, asking about the turmoil, he is told the source is “High Food Prices.” The reason for...

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    Sounds Like Pistachios

    Dec 25, 10 • 110 Views • Demand, Supply, and Markets, Economic Debates, Environment, Financial Markets, Thinking EconomicallyNo Comments

    “Remember the pistachios,” is a memorable line from a novel by economist Russ Roberts. In the first several pages of The Invisible Heart: An Economic Romance, a teacher says you have been given a room filled 5 feet high with pistachio nuts. The...

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    Gas Prices

    Dec 11, 10 • 127 Views • Environment, Households, Macroeconomic MeasurementNo Comments

    Have you been paying more for gas? Looking at this map, you can see that gas prices around the country have been rising in most places. Economist James Hamilton suggests that the price of gas is directly connected to the GDP. Citing the BEA breakdown of...