Environmental Economics
The cromulent economics blog
recent posts
Category: Demand and Supply
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From the WaPo (Olive oil prices reach record highs as Spain’s harvest is halved): Extreme heat, wildfires and drought have decimated much of the world’s olive oil harvest yet again, driving prices to a record high of $9,000 per metric ton. Most home cooks aren’t buying olive oil by the ton. But retail olive oil…
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From the NYTimes (In Surprise, OPEC Plus Announces Cut in Oil Production): Saudi Arabia, Russia and their oil-producing allies announced on Sunday that they would cut production by more than 1.2 million barrels of crude a day, or more than 1 percent of world supplies, in an apparent effort to increase prices. Oil prices soared…
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From E&E News (DOE: Major LNG project ‘would not increase’ CO2) from June 2022: A proposed liquefied natural gas project in Alaska would not raise greenhouse gas emissions, according to a new federal environmental review that assumes LNG exports elsewhere will continue to meet demand even if the planned pipeline and terminal aren’t built. ……
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The decision to allow mining in Alaska is controversial (Biden Administration Expected to Move Ahead on a Major Oil Project in Alaska): In one of its most consequential climate decisions, the Biden administration is planning to greenlight an enormous $8 billion oil drilling project in the North Slope of Alaska, according to two people familiar…
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From the inbox: The SSRN Processing Team has added the following comment to your submission, Count Data Models and the Problem of Zeros in Recreation Demand Analysis (Abstract ID 3559768): This submission has been removed from SSRN at the request of Wiley-Blackwell, copyright holder of the work. The publisher will allow authors to submit a…
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I think I cringe that I wrote this: While it is tempting to think of a market transaction resulting in winners and losers, it turns of that this is not the case. A market transaction is not a competition between buyers and sellers, but rather a mutually beneficial exchange that result in both sides being…
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From CNN (How the blare of a crypto mine woke up this Blue Ridge Mountain town): When Judy Stines first heard about cryptocurrency, “I always thought it was smoke and mirrors,” she said. “But if that’s what you want to invest in, you do you.” But then she heard the sound of crypto, a noise that neighbor Mike…
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From the WSJ Micro Weekly Review (reviewed by Edward Scahill, University Of Scranton): Canada’s Oil Market Finds Outlet in U.S. Demand By Vipal Monga | September 12, 2019 Summary: An increase in the demand for dense crude oil from the U.S. and cuts in production ordered by its government has eased an oil glut in…
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Summer gasoline market analysis from AAA: The national average dropped six cents on the week, following a consistent downward trend since Memorial Day. The decline is unusual for this time of year. Pump prices usually trickle higher during the summer months due to increased demand. However, the latest Energy Information Administration (EIA) report reveals that…
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Warning: NSFW (Unless you work at a University and part of your job is to watch stuff like this and post it on a blog). The highlights of this have been around all week, but most of the clips are just Bill Nye the Science Guy saying "motherf***ers. But this segment on Last Week Tonight…
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