Feb 3, 2012
Chris and I once again dig into Chapters 4 & 5 of Hazletts book 'Economics in One Lesson'.
This episodes voice quality was lower than usual but it will be repaired for our third installment of this book review.
I apologize for the long lag between episodes but I am currently very busy with many different projects and have little time for accomplishing everything that is on my to-do lists.
Please email all comments and suggestions to twobeerswithsteve at hotmail.com
Steve
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Juandos, yes, the Europeans had a rude awakening reetlcny.The E.U. has much worse debt problems than the U.S., while gasoline prices are 2 1/2 times higher and natural gas prices are six times higher.I wonder how much further European living standards will fall?We could've produced an additional 1 million barrels a day of crude oil in 2011, instead of 120,000 a day, to lower prices and create jobs:EIA Expects Higher U.S. Crude Production Mar 7, 2012"U.S. crude oil production increased by an estimated 120 thousand bbl/d to 5.60 million bbl/d in 2011. A 390-thousand bbl/d increase in lower-48 onshore production in 2011 was partly offset by a 40-thousand bbl/d decline in Alaska and a 230-thousand bbl/d decline in output in the Federal Gulf of Mexico/GOM.The rise in production is driven by increased oil-directed drilling activity, particularly in onshore shale formations."
Juandos, yes, the Europeans had a rude awakening recnltey.The E.U. has much worse debt problems than the U.S., while gasoline prices are 2 1/2 times higher and natural gas prices are six times higher.I wonder how much further European living standards will fall?We could've produced an additional 1 million barrels a day of crude oil in 2011, instead of 120,000 a day, to lower prices and create jobs:EIA Expects Higher U.S. Crude Production Mar 7, 2012"U.S. crude oil production increased by an estimated 120 thousand bbl/d to 5.60 million bbl/d in 2011. A 390-thousand bbl/d increase in lower-48 onshore production in 2011 was partly offset by a 40-thousand bbl/d decline in Alaska and a 230-thousand bbl/d decline in output in the Federal Gulf of Mexico/GOM.The rise in production is driven by increased oil-directed drilling activity, particularly in onshore shale formations."