NC Media Watch

A quest for reason and accuracy in letters to the editor, guest editorials and other issues of interest to the citizens of Western Nevada County.

Monday, August 22, 2005

Peak Oil Update: Freakonomics on oil and sharks

Economic will pay a major role in soltuions to peak oil. Steve Levitt at the Freakonomics blog has some interesting views.
So why do I compare peak oil to shark attacks? It is because shark attacks mostly stay about constant, but fear of them goes up sharply when the media decides to report on them. The same thing, I bet, will now happen with peak oil. I expect tons of copycat journalism stoking the fears of consumers about oil induced catastrophe, even though nothing fundamental has changed in the oil outlook in the last decade.
Be aware of the copycat journalism, on multiple issues.

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Blogger Frederic Christie said...

I think the worse case of paranoia is the notion that gas prices are high now. Yes, higher than before, but that's because the previous price was rock-bottom compared to the rest of the world and MUCH lower than the real social cost of gas.

Tue Aug 23, 01:17:00 PM PDT  
Blogger Russ Steele said...

In real dollars, gas prices were higher in the 1980s. Without gas engines, we would still be leaping across horseshit ladden streets. The social cost of only using bikes, trains, and horses is way too high. Look at how people lived when they were the only modes of transportation?

Tue Aug 23, 01:55:00 PM PDT  

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