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December 28, 2010
Ex-Shell President: Gas Might Go Up To $5 a Gallon in 2012The one good thing is that both parties have a narrative/answer for this -- the Republicans, expanding domestic drilling, including in ANWR, and the Democrats, filling out tanks with starshine and rainbows -- but prices at this level will compel moving on both. The public may still want their starshine and rainbows, but they're not going to be content with only that option. "I'm predicting actually the worst outcome over the next two years which takes us to 2012 with higher gasoline prices," he said. Instapundit quotes John Tierny on oil, and Malthusian pessimism against Cornucopian optimism. I called Mr. Simmons to discuss a bet. To his credit — and unlike some other Malthusians — he was eager to back his predictions with cash. He expected the price of oil, then about $65 a barrel, to more than triple in the next five years, even after adjusting for inflation. He offered to bet $5,000 that the average price of oil over the course of 2010 would be at least $200 a barrel in 2005 dollars. The Malthusians seem to forget that many limitations on resources are imposed by lack of human will, lack of human energy, and lack of human knowledge, and that rising prices in any particular sector have a habit of increasing those scarce supplies. | Recent Comments
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TheJamesMadison, on just the weirdest trip with John Boorman: "24 Every time I bring up Hunter's influence peddli ..." People's Hippo Voice: "Just ask anyone here to sacrifice their Social Sec ..." Taylor: ""The FBI knows exactly what document Chairman Come ..." Divide by Zero [/i]: " My wife and I paid into SS for a combined 100 ye ..." Aetius451AD Work Laptop: "29 Ok, so they find him in contempt of Congress. T ..." It's me donna : "29 Ok, so they find him in contempt of Congress. T ..." polynikes: "Posted by: Joe Mannix (Not a cop!) at May 30, 2023 ..." Joe Mannix (Not a cop!): "[i]'We as usual just need several months of his he ..." Bitter Clinger: "Meh. Republicans just jacked the debt ceiling u ..." Archimedes: "[i]The FBI said last week: "Releasing confidential ..." Duke Lowell : "Ok, so they find him in contempt of Congress. Then ..." Recent Entries
Jim Biden Emailed a Crack-Addled Hunter, "I Can Work With Your Father Alone" on the Business Deals With Chinese Agents
The Morning Rant: Minimalist Edition Mid-Morning Art Thread The Morning Report — 5/30/23 Daily Tech News 30 May 2023 Overnight Thread: Memorial Day – 5/29/2023 Samurai City Cafe Repost: A Very Special Guest Post from Tom Friedman The Rise of the One Party State Doc_0: You Can't Libertarian Your Way Out of Tyranny Search
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