by John Baffes and Allen Dennis, the World Bank
This paper, written by two economists, estimates what drove food-price increases from 1997-2004 and 2005-12. “It concludes that most of the price increases are accounted for by crude oil prices.”
Brazil is oil independent, indeed, is an oil exporter, because its consumers have a choice of fuels at the pump. Most of the cars in the country, and nearly all in urban areas, can run on anything from a 20 percent/80 percent ethanol/gasoline blend up to 100 percent ethanol. And consumers decide which blend to use at […]
The New York Times’ lead story today offers are lengthy and useful examination of the debate between more drilling, and more conservation and efficiency, in what the newspaper sees as signs of progress toward “energy independence”. Both drilling and efficiency are helpful, but unfortunately insufficient, to achieve this goal. Despite increased domestic oil production and a slowdown in […]
