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Cool Graph Friday
H/T Craig Depken H/T W$J/Josee Valcourt H/T Russell Roberts H/T James...
How to correct what went wrong in subprime
Clear Thinkers favorite James Hamilton provides this interesting post on Princeton professor Alan Blinder's NY Times Sunday op-ed in which Blinder makes the common sense observation that we first have to figure out what went wrong in the subprime mortgage...
Scarcity rents and oil prices
Clear Thinkers favorite James Hamilton is thinking about oil prices again, and that's always a good thing. This time, Professor Hamilton examines the impact that scarcity rents are having on oil prices as the markets increasingly adjust for the risk...
More on that energy price conspiracy
A couple of weeks ago, this post noted the news stories about some pundits were floating the theory that the recent slide in energy prices was a dark conspiracy of powerful political forces that were attempting to ensure the victory...
The art of predicting energy prices
Oil prices continued a steady slide last week, ending the week at a five-month low as concerns about possible shortages that fueled this summer's rally ebbed. The October crude contract on the New York Mercantile Exchange settled at $66.25, the...
Oil settles at over $70 per barrel
Crude oil closed above $70 a barrel yesterday for the first time despite the fact that U.S. oil inventories are at their highest levels in nearly eight years. Thus, this current price spike appears to be a reflection of a...
Meanwhile, over in the natural gas markets . . .
As oil prices reversed a downward trend and rose over the weekend on the news of more Nigerian political problems (James Hamilton explains why this is important), the roller coaster of emotions that is the natural gas market continued unabated....
Markets at work
A funny thing happened in response to the recent run-up in gasoline prices resulting from Hurricane Katrina -- demand for gasoline dropped dramatically. Clear Thinkers favorite James Hamilton puts it all into perspective....
Updating Katrina's economic ripples
Six days after Hurricane Katrina hammered a main conduit of the U.S. energy and shipping industries, much of the crucial infrastructure on the energy industry in the Gulf Coast region those remains shut down. Although a full assessment of the...
A remarkable city responds as Katrina's economic ripples ease a bit
In the chaos of the worst natural disaster of our time, the remarkable Houston community provided extraordinary relief for tens of thousands of New Orleans area evacuees and, in so doing, provided a substantial part of the calming effect that...
Houston takes in New Orleans' weary
As the effects of the worst natural disaster of our time continued to become more apparent with each passing hour, Houston opened its arms to tens of thousands of New Orleans citizens who lost virtually everything but their lives. Houston's...
Further assessment of Katrina's economic impact
As companies involved in the U.S. oil and gas industry continue to assess the damage that Hurricane Katrina has caused to Gulf of Mexico and Gulf Coast production facilities, Royal Dutch Shell PLC announced on Tuesday that its Mars floating...
Evaluating Katrina's damage to oil and gas production facilities
Officials of oil and gas companies and refineries with facilities in the path of Hurricane Katrina were scurrying around yesterday somewhat helplessly attempting to evaluate the extent of the storm's damage on key oil and natural-gas production facilities that rattled...
Evaluating the true risk of Vioxx
At the start of the recent Merck/Vioxx trial, this post noted the dearth of clinical evidence that Vioxx was a particularly risky drug. In light of last week's big verdict in the case, long-time Clear Thinkers favorite James D. Hamilton...
A great dialogue on energy prices
Clear Thinkers favorite James D. Hamilton and Robert K. Kaufmann, professor in the Center for Energy & Environmental Studies at Boston University, are the participants this week in the Wall Street Journal's excellent Econoblog series (it's free!). The topic is...
Professor Hamilton reviews the week in oil prices
Even before he started his smart blog recently, Professor James D. Hamilton of the University of California at San Diego was one of my favorite experts on the economics of energy prices (previous posts here). In this post, Professor Hamilton...
The risk of rising U.S. debt
Awhile back, this post made the point that, rather than focusing on CNOOC's bid to overpay for a second tier U.S. oil & gas company such as Unocal, the real issue that needs to be addressed is that American society...
Will oil prices top $100 a barrel?
Prior posts here and here have highlighted the work of University of California at San Diego profeesor James D. Hamilton, who is one of the country's foremost experts on the economics of energy prices. In this recent post, Professor Hamilton...
Let's see, how can we blame Enron for this?
One of the enduring myths of this era of criminalizing business practices is that Enron's energy trading policies were one of the primary causes of California's power crisis during the early part of this decade. Well, with Enron gone, that...
$60 a barrel oil
Oil prices surged almost 10% last week and are widely expected to top $60 a barrel this week. The recent price gains show a sharp turn in the short term market since only a month ago, when reports of steady...
Primer on higher oil prices
This Wall Street Journal ($) article provides a timely overview of the economic and political forces that have caused the increased energy prices over the past two years and how this price hike differs from previous ones: As oil prices...
Excellent overview of the current spike in energy prices
James D. Hamilton is an economics professor at Cal-San Diego who specializes in the economics of energy. In this excellent piece, Professor Sullivan summarizes the recent spike in energy prices and compares it to similar spikes of the past. The...
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