tag:blogger.com,1999:blog-7169279.post109647959795963689..comments2023-11-24T03:20:02.361-07:00Comments on Tufte's Economics Classes Blog - A Living Textbook: Has Oil Prices reach the All Time High?Dr. Tuftehttp://www.blogger.com/profile/17397586052171706438noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-7169279.post-61050802199277154712008-05-06T15:16:00.000-06:002008-05-06T15:16:00.000-06:00-1 on Isaac - I'd already counted the withdrawn co...-1 on Isaac - I'd already counted the withdrawn comment.Dr. Tuftehttps://www.blogger.com/profile/17397586052171706438noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-78003478567656838912008-03-31T10:25:00.000-06:002008-03-31T10:25:00.000-06:00Dr. Tufte mentioned the fact that there hasn’t bee...Dr. Tufte mentioned the fact that there hasn’t been a refinery built in this country for 30 years and that demand is inelastic. He couldn’t have been more correct. Given that I can look back over the last 4 years, I can see that oil is completely inelastic. Current prices of oil are above $100 a barrel and we are continuing to buy. We have not reached our breaking point yet and I believe it Isaachttps://www.blogger.com/profile/15301075222651886044noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-38263124548546151972008-03-31T10:22:00.000-06:002008-03-31T10:22:00.000-06:00This comment has been removed by the author.Isaachttps://www.blogger.com/profile/15301075222651886044noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-1098298191219618672004-10-20T12:49:00.000-06:002004-10-20T12:49:00.000-06:00Oil prices are funny, and it's nice to see someone...Oil prices are funny, and it's nice to see someone thinking about issues other than the sky-is-falling.<br /><br />And ... believe it or not ... this relates to the concept of identification, as discussed in Chapter 4.<br /><br />Any time there is a price rise, you need to ask if it is being driven by demand shifting to the right, supply shifting to the left, or some more unusual combination. <brDr. Tuftehttps://www.blogger.com/profile/17397586052171706438noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-1096570283886098872004-09-30T12:51:00.000-06:002004-09-30T12:51:00.000-06:00There is no doubt that high oil prices have a ripp...There is no doubt that high oil prices have a ripple effect on the United States' economy. It makes trucking companies charge more to ship goods, which in effect creates higher prices for goods. The United States needs to start looking strongly into other areas.Erniehttps://www.blogger.com/profile/01727480926569919212noreply@blogger.com