This blog contains posts and comments written by students in Dr. Tufte's economics classes at Southern Utah University.
10/18/2005
The Impact of Gas
It is amazing how the increase cost in one good can cause such a change in the price of other goods. We all feel the pain when we go to the pumps to fill up, but not many of us have thought about how higher gas prices will cause other prices to increase. The article I found points out that we are facing the largest increase in wholesale in the past 15 years. I wonder how much more we can take before we face real problems.
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1 comment:
-1 on Morgan's comment for spelling errors.
Interestingly, the price of "everything else" is far less sensitive to oil prics than it used to be. This is because high oil prices in the 70s and 80s got people to move away from oil-intensive production.
Sara and Morgan - you should be smarter than to buy into this nonsense about hybrids and electrics. Those still require power generation, almost all of which comes from fossil fuels. What hybrids and electric do is put distance between the generation of power (and its pollution) and the area where you are traveling. The people who want you to get a hybrid just don't want you driving by and polluting their neighborhood. That's perfectly reasonable, but it only makes their neighborhood cleaner - it does nothing for the world as a whole.
And Morgan ... don't you think that if they mandate propane for cars that we'll just have propane crises instead of oil or gas crises?
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