tag:blogger.com,1999:blog-7169279.post111095176320308021..comments2023-11-24T03:20:02.361-07:00Comments on Tufte's Economics Classes Blog - A Living Textbook: Is Oil Really in Short Supply?Dr. Tuftehttp://www.blogger.com/profile/17397586052171706438noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7169279.post-1115667622145931812005-05-09T13:40:00.000-06:002005-05-09T13:40:00.000-06:00Without showing any support for the bizarre surviv...Without showing any support for the bizarre survivalskills.com website, let me note that the linked article was originally published in the respected legacy media outlet Newsday. It refers to the well-known, but poorly accepted idea, that many underground reservoirs of oil appear to be refilling from below. The big question is still why?Dr. Tuftehttps://www.blogger.com/profile/17397586052171706438noreply@blogger.comtag:blogger.com,1999:blog-7169279.post-1111006440094186732005-03-16T13:54:00.000-07:002005-03-16T13:54:00.000-07:00-1 on Rico's post for poor capitalization.This is ...-1 on Rico's post for poor capitalization.<BR/><BR/>This is one of the better posts by my students about why gas prices are "high". The "high" prices are really driven by consumption, not a shortfall of production. However, most of that consumption is going to produce goods, not to tool around in Hummers.<BR/><BR/>Most of the Middle Eastern oil producers are running near capacity. Iraq is an Dr. Tuftehttps://www.blogger.com/profile/17397586052171706438noreply@blogger.com