The West Steps In On Energy Crisis

There is always a social contract between business, government, and social. When each one is equal in their contribution they create a perfect triangle. When one of the three slack, another will step in to make up the difference. In recent "whats happening," the west, particularly a small town in Wyoming, is stepping in to make up for the unequal triangle. There is a huge crisis of energy present in our economy right now and as our economy being a capitalist system some view this as an opportunity. In an article that can be found at the following website of csmonitor, www.csmonitor.com/2005/0411/p01s01-ussc.html. This article had an interesting story on how this small town has began to mine for oil. This is a huge boom for this little town and folks their that had retired from oil mining have come back to begin mining again. They view the high oil prices as an opportunity to spark their own small economy and give hope for those living their. It will not only contribute to the oil shortage but it will also create high paying jobs and keep the people their to live long term. I found this article interesting because it shows how there is always an opportunity in every down fall of the economy. When there is a slack in one end, there is always someone their to step it up and make up for the slack.

1 comment:

Dr. Tufte said...

-3 on Liz's post for multiple spelling and grammatical errors.

I think this post points to an idea that everyone needs to carry away from a collge education: most price changes are neither good nor bad for society. Individuals may be hurt or helped by a particular price change, but except in rare cases (say when a good can only be imported), most price changes are neutral.

P.S. That goes for interest and exchange rate changes as well.