tag:blogger.com,1999:blog-3143724362136202099.post8737835243917249749..comments2024-02-13T14:25:06.949-05:00Comments on the bottlenecked blog: High Hopes for High Gas PricesHarrison Brookiehttp://www.blogger.com/profile/05372315442336546216noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-3143724362136202099.post-51696229514365858542009-10-13T22:10:34.255-04:002009-10-13T22:10:34.255-04:00Nah, I have high hopes for what will result out of...Nah, I have high hopes for what will result out of these high prices. It has resulted in people using less oil (responding to the high prices) and more investment in "greener" forms of energy. Now I no hippy, but if we are harming the enviroment, I'm up for harming it less.Harrison Brookiehttps://www.blogger.com/profile/05372315442336546216noreply@blogger.comtag:blogger.com,1999:blog-3143724362136202099.post-52155233459206412742009-10-13T22:10:27.189-04:002009-10-13T22:10:27.189-04:00you mean high hopes for low gas prices right?you mean high hopes for low gas prices right?Parkernoreply@blogger.comtag:blogger.com,1999:blog-3143724362136202099.post-22967232312409496672009-10-13T22:10:15.256-04:002009-10-13T22:10:15.256-04:00I really liked the article you linked Justin and I...I really liked the article you linked Justin and I think it had a lot of good stuff to say. What I'm not sure is when the author thinks prices will fall again. If he thinks it's something like next month he's probably wrong. I think Steve is right that this speculating will keep prices high, but not forever. I just assumed it would take like 10 years to build all the new drills and refineries (whatever it takes to produce usable oil) then the price would go back down to cost. My hope was in that time new technologies would help ween us off polluting energy sources.Harrison Brookiehttps://www.blogger.com/profile/05372315442336546216noreply@blogger.comtag:blogger.com,1999:blog-3143724362136202099.post-70420021491399370072009-10-13T22:10:06.214-04:002009-10-13T22:10:06.214-04:00Justin,
Thanks for the pointer to the Fortune art...Justin,<br /><br />Thanks for the pointer to the Fortune article. I appreciated the economic sensibility of the author. However, I remain unpersuaded by his arguments. One of the elements of all bubbles, manias and frenzies is speculation about continued future growth in value. People bought tulips in the Dutch mania of 1636-1637, not for their intrinsic value, but for their belief that it was an "investment" that would continue to rise. The Fortune article, although pointing to the kind of investment you would expect to see when prices and profits rise, fails to reveal who the parties are that are "speculating" on future price increases. Who is buying oil and holding on to it to sell at a higher price later? There may be an answer but it is not clear from the article. Speculation and investment are not the same thing.<br /><br />SteveStevehttp://www.fattriplets.com/noreply@blogger.comtag:blogger.com,1999:blog-3143724362136202099.post-54204419889119628052009-10-13T22:09:36.726-04:002009-10-13T22:09:36.726-04:00Uh oh, looks like you have some dissenting economi...Uh oh, looks like you have some dissenting economists:<br />http://tinyurl.com/5fy89uJustinhttp://justinis.comnoreply@blogger.comtag:blogger.com,1999:blog-3143724362136202099.post-74205727908934789412009-10-13T22:09:21.328-04:002009-10-13T22:09:21.328-04:00The Economist thinks so too:
http://www.economist...The Economist thinks so too:<br /><br />http://www.economist.com/science/displaystory.cfm?story_id=9762843Harrison Brookiehttps://www.blogger.com/profile/05372315442336546216noreply@blogger.comtag:blogger.com,1999:blog-3143724362136202099.post-12378341033228995982009-10-13T22:09:13.506-04:002009-10-13T22:09:13.506-04:00Well said. Viva la revolution!
Mark my words thou...Well said. Viva la revolution!<br /><br />Mark my words though - the only innovative solution is nuclear energy.Justinhttp://justinis.comnoreply@blogger.com