W y o m e Journal

Marginal Revolution asks, “What ended the Great Depression”?

From The BBC:
The price of oil has climbed more than $2 a barrel following China’s multi-billion dollar stimulus package aimed at boosting its economy.
China spends, we pay the price. Good thing they will still loan to us to pay the difference.

From the Financial Times:
“While market imbalances could temporarily cause prices to fall back, it is becoming increasingly apparent that the era of cheap oil is over,” the report states.
The developed world’s energy watchdog has doubled its long-term price expectation from last year’s $108 a barrel for 2030 and assumes oil prices will rebound from today’s [...]

From The WWF (not the World Wrestling Federation, methinks):
China’s coal bill in 2007 reached a total external cost of 1.7 trillion Yuan ($250bn), equivalent to 7.1 per cent of China’s gross domestic product the same year.
This report is not what I generally think of when I look at costs for energy, as it is from [...]

Ties in nicely with my last post…

…some energy experts say the plan is too expensive, inefficient, and may not ease U.S. dependence on fuel from Russia, Iran, and other countries.