January 07, 2010
I Got Yer Peak Oil, Right Here

I love the smell of markets at work. Smells like... victory. High prices, driven by demand, which allow profits that are not confiscated by the government create incentives for efficiency and exploration. The result? Commodity prices always go down over time. Times when this has not been the case are usually rooted in government policies which either distort demand or destroy incentives for innovation.

Posted by scott at January 07, 2010 05:18 AM

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