I for one would like to see better communication between economists, geologists, and petroleum engineers about the timing and consequences of the eventual decline in global annual production rates of crude petroleum. In part the failure to communicate better with each other stems from differences in the language, assumptions, and paradigms with which those of us from different specialties approach this issue. As one small step toward bridging that gap, I’d like to lay out for noneconomists a few of the key aspects of how economists might think about peak oil.
Author Archives: James_Hamilton
Here and there around the web
Catching my eye here and there around the web: Supreme Court speculation, a natural
experiment in market microstructure, a troubling Kansas court decision, pirates, and an
expression of support for those in London.
Are the new employment figures really that bad?
The unemployment rate has reached its lowest level of the last four years, and yet some
economists still wring their hands in despair over the anemic job situation. I’m having some
trouble following their reasoning on this one.