From a bunch of guys in suits, likely not wearing Birkenstocks: Members of the Journal’s CEO Council tasked with discussing priorities for the U.S. economy and finance offered several fairly uncontroversial suggestions to the incoming administration: implement a fiscal stimulus plan without worsening the long-term deficit, appoint a panel to address financial regulation, create an …

Continue reading ‘Daily “You’re Not Paying Enough For Gas” Report’ »

You know when you’re a blog-writin’, energy wonkin’ wonk when you go bike riding with friends, and the whole thing turns into an energy policy riff. On the Internet. I’ll let Scot tell it: I see at Bloomberg this morning that oil is $55 a barrel. $85 dollars down from $140, carry the one….that’s…a 61% …

Continue reading ‘Oil Closed Today at $55.15’ »

The Washington Post thinks you’re not paying enough for gas*: In a perfect world, we’d like to see a gas tax that was the equivalent of oil at $100 per barrel. This would send a loud-and-clear signal to drivers to continue eschewing gas guzzlers for fuel sippers and mass transit. Automakers would get the message …

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James Hamilton: It is sometimes argued that if economists really understand something, they should be able to  predict what will happen next. But oil prices are an interesting example (stock prices are another) of an economic variable which, if our theory is correct, we should be completely unable to predict.