Comments on: A false sense of security http://www.sun-volt.com/blog/2008/11/19/a-false-sense-of-security/ earth, the final frontier Wed, 10 Mar 2010 17:42:23 -0500 http://wordpress.org/?v=2.9.1 hourly 1 By: CFE http://www.sun-volt.com/blog/2008/11/19/a-false-sense-of-security/comment-page-1/#comment-71 CFE Mon, 01 Dec 2008 09:53:58 +0000 http://www.sun-volt.com/blog/?p=237#comment-71 Because oil demand is very inelastic, prices are extremely volatile. A small decrease in demand or increase in production can lead to dramatically lower prices, or vice versa. Including the cost of externalities in the price of oil would make a big difference. The head of IPCC reckons that a $25 per barrel tax on oil would cover it. That would send a message that oil will always be expensive, thus reducing demand long term. Because oil demand is very inelastic, prices are extremely volatile. A small decrease in demand or increase in production can lead to dramatically lower prices, or vice versa.

Including the cost of externalities in the price of oil would make a big difference. The head of IPCC reckons that a $25 per barrel tax on oil would cover it. That would send a message that oil will always be expensive, thus reducing demand long term.

]]> By: Todd http://www.sun-volt.com/blog/2008/11/19/a-false-sense-of-security/comment-page-1/#comment-70 Todd Fri, 28 Nov 2008 16:05:17 +0000 http://www.sun-volt.com/blog/?p=237#comment-70 Well said Paul...it never had much to do with demand...once again the media and wall street did a great job convincing gullible citizens that the sky was falling. However, I think it was a great wake up call for all of us to finally divorce ourselves of oil! Well said Paul…it never had much to do with demand…once again the media and wall street did a great job convincing gullible citizens that the sky was falling. However, I think it was a great wake up call for all of us to finally divorce ourselves of oil!

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