Six Facts: Our Global Energy Consumption

The six facts that illustrate our global energy consumption take us to the countries, the growth rates, and the types of energy..

How Norway Avoided Dutch Disease

Avoided by Norway, Dutch disease is contracted by nations that let a commodity windfall dominate what they produce and spend.

Election Economics: The Economics of Foreign Policy

Although tonight’s presidential debate is about foreign policy, perhaps the real focus is the economy. More than 200 years ago, Alexander Hamilton created the connection between economic policy and foreign policy. By funding the Revolutionary War debt, he established public credit and US borrowing…

Job Creators or Robber Barons?

I have confessed before that I admire the entrepreneurs who have been called the robber barons. Carnegie and steel, Rockefeller and oil, J.J. Hill and railroads, Morgan and money. These men and others from their 19th century world competed lethally.…

The Norwegian Butter Crisis

Reserves were low, demand was high and prices skyrocketed. No, not oil. Butter. Butter demand surged in Norway several months ago when a low carb high fat diet swept the nation. At the same time, the supply of butter plunged…

A Gas Price That Might Matter

Is it $4.11? Although gasoline prices are rising, consumers have not altered their driving habits. Economist James Hamilton suggests that the tipping point tends to be when prices exceed the highest point during the past 3 years. That number is…

High and Low Energy Markets

Let’s rewind to 2008 for a moment. At $13 per thousand cubic feet, the price of natural gas was soaring. Close to $91 a barrel, the price of oil was exceeding recent highs. Selling for more than $200 per kilogram,…

The Future of Oil

When will we run out of oil? A room full of pistachios might have the answer. In the first several pages of The Invisible Heart: An Economic Romance, a teacher says you have been given a room filled 5 feet…

Defrosting the Doughnut Hole

A global phenomenon will open up new areas for oil exploration, enable ships to take shortcuts, and provide easier access to world markets for iron ore and other minerals. The phenomenon? Global warming. Because of global warming, the polar ice…

A Conservation Dilemma

Should the Dunes Sagebrush Lizard (aka the Sand Dune Lizard), a 3-inch striped reptile, be listed under the Endangered Species Act? Here is the problem. The home of the Sand Dune Lizard is also the home of the Permian Basin…