No Peaking

People are getting worked up about peak oil theory. I’ll reply to some of the deluge of mail in the next day or two but first, three things: (1) Lawnorder, the blogger at Daily Kos who I wrote about in “Oil and Instinct,” has written a follow-up...

The Economics of Oil

I read the following passage in David D. Friedman’s Hidden Order: The Economics of Everyday Life (published in ’97): In the previous discussion, we were considering a pure depletable resource — a resource whose price was entirely determined by its...

The Oilman’s Revenge

Ted Friedman comments on “The New Energy ‘Crisis’ and Iraq”: This is a confusing post that sees to suggest that Peak Oil is a “theory” based on “junk science.” Mathew Simmons seems to have excellent credentials. Much...

Guns, Oil, and Neocolonialism

Henry Hazlitt famously (Well, it’s famous in some circles) wrote that: “The art of economics consists of looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one...

Another View of the Saudi Power Struggle

In my last post I mentioned Michael Scott Doran’s article “The Saudi Paradox.” For a more complex, though not necessarily contradictory view of the Saudi power struggle there’s Robert Baer’s Sleeping with the Devil: How Washington Sold...