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107 comments on The Economics of Volatile Oil Prices
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107 comments on The Economics of Volatile Oil Prices
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That's a great video and really does a lot to dispel any "straight line to $500 oil" argument. I really hope that TPTB 'get' what's happening sooner rather than later. We are in for a series of (dep)recessions caused by this. As I posted previously 'Whale Bone' might give us a clue as to what lies ahead:
Perhaps high price -rather than fashion- is why the corset died out...?
Nick.
noutram,
+5 rating points for demonstrating how the "price" signal hides what's really going on with dwindling resources like whale parts.
A drop in price might be argued to be proof that the "peak" never happened even though we are well past peak.
Thanks.
jpods has a few more interesting graphs here