tag:blogger.com,1999:blog-7169279.post109605593593196947..comments2023-11-24T03:20:02.361-07:00Comments on Tufte's Economics Classes Blog - A Living Textbook: Should We Begin To Panic Yet?Dr. Tuftehttp://www.blogger.com/profile/17397586052171706438noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7169279.post-1098286978574716252004-10-20T09:42:00.000-06:002004-10-20T09:42:00.000-06:00I wouldn't panic yet, or any time soon.
Oil price...I wouldn't panic yet, or any time soon.<br /><br />Oil prices are not high in real terms. Even if they were, a price run-up would only be a problem if it was caused by supply scarcity. But that doesn't seem to tbe case this time around: this is the best year for world GDP growth since the early 1970s. That will push up the price by itself. <br /><br />Now, here is a nasty thought. OPEC was able Dr. Tuftehttps://www.blogger.com/profile/17397586052171706438noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-1098286834996500992004-10-20T09:40:00.000-06:002004-10-20T09:40:00.000-06:00I wouldn't panic yet, or any time soon.
Oil price...I wouldn't panic yet, or any time soon.<br /><br />Oil prices are not high in real terms. Even if they were, a price run-up would only be a problem if it was caused by supply scarcity. But that doesn't seem to tbe case this time around: this is the best year for world GDP growth since the early 1970s. That will push up the price by itself. <br /><br />Now, here is a nasty thought. OPEC was able Dr. Tuftehttps://www.blogger.com/profile/17397586052171706438noreply@blogger.com