Peak Oil
The Freakonomics guys have a couple of interesting posts relating to “peak oil” over on their blog:
- “Peak Oil:” Welcome to the media’s new version of shark attacks
http://www.freakonomics.com/2005/08/peak-oil-welcome-to-medias-new-version.html - Betting on Peak Oil
http://www.freakonomics.com/2005/08/betting-on-peak-oil.html
They pull apart a poorly reasoned article form Sunday’s New York Times magazine on the topic, explaining how people tend to not understand the theory of supply & demand, and we needn’t panic over the thought of the cost of oil suddenly jumping to $200.
Kinda makes we wanna go out & buy a hummer.
August 25th, 2005 at 11:52 pm
The end result is that the US will become more like Europe and everyone is going to have a hatchback instead of an SUV. Also, the rise in fuel prices is especially bad for poor people. It’s also quite bad for American automakers who have been unable to keep up with the fuel efficient engines and transmission of Japan and Germany. Oh and lastly, a whole bunch of airlines are going to go out of business.
August 26th, 2005 at 10:30 am
I thought people in Europe drove mopeds, with no helmet, and saying “chao” to everyone…
August 26th, 2005 at 1:32 pm
Funny you mention mopeds. Motorcycle sales are going up rapidly. I went to both a Honda and Kawasaki dealer and the sales guys asked me if I was looking save on gas. We chuckled and talked a bit at Kawa dealer, but it seems the entry level motorcycles are selling VERY well getting over 50 mpg. I was of course looking at sport bikes.