Changing Expectations Wonderful news!!!! An economist explains why the price elasticity of oil is such that if we can drill for more and increase the supply the price will come down...
I often wonder how some of these economists handle the process of dressing in the morning, nor for that matter, the filtering of actually DATA in order to reach their conclusions.
As I said in the comments section. This is excellent news. I think while oil comes down in price I had better stock up on Tulip Bulbs and get the South Sea Company to ship them to me. I've heard they can be sold for a fortune on this Internet thing with just a "website" - better buy into some radio advertising too...
There are so many books on bubbles and so much data it astounds me that apparently credible economists that people listen to still get taken in by them.
![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
