Rantings and tirades of a frustrated economist.
Absolutely correct. And the same thing applies to North American "energy independence" that is so much in the news. Oil is a global commodity with a global price, and it does not matter if it comes from the Saudis or the Bakken, it will cost more or less the same. So if there is a global oil shock, "energy independence" will not matter. Duh:)
Post a Comment