Publications: Notes at the Margin

In Denial (March 25, 2019)

 

It is human instinct to deny that serious problems are on the horizon. Today, almost everyone following the oil market exhibits the same sort of denial. Few seem to believe the US government could take action that would distort global supply-and-demand balances and cause retail diesel and perhaps gasoline prices to double or triple in Europe, Brazil, and Asia while US consumers saw prices as low or lower than today.

 

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