Download Full PDF 1. Oil and the Global Economy NY oil climbed a couple of dollars a barrel on Monday, then continued to trade around $85 for the rest of Continue Reading
“A strong majority of Americans say it is likely that oil prices will triple in the coming five years and that such a tripling would be harmful both to the Continue Reading
Back in the 1960s and 1970s, the country that was the “big growth story” was the Soviet Union. Its oil consumption grew by leaps and bounds. Its space program grew; its military program grew; and it became much more industrialized. But then something happened to stop the amazing growth story. The Soviet Union became the Former Soviet Union (FSU) in late 1991, and even before that, oil production and consumption slowed.
“People are naturally much more responsive to finite resources than they are to climate change. Global warming is bad news. Finite resources is investment advice.”
In this article I will further expound on my reasoning behind the ELP plan, otherwise known as “Cut thy spending and get thee to the non-discretionary side of the economy.”
I have been advising anyone who would listen to voluntarily cut back on their consumption, based on the premise that we were probably headed for a period of deflation in the auto/housing/finance sectors and inflation in food and energy prices.
“This agreement on fuel standards represents the single most important step we’ve ever taken to reduce our dependence on foreign oil.”