Very Crude Oil

by Don Boudreaux on May 7, 2004

in Science

In today’s NY Times, Paul Krugman warns us that we are running out of oil, and that scarcer oil (and consequent higher prices) are inevitable over the long run. I’m skeptical for a variety of reasons. Here’s a link to one of these reasons — a link to a story, not incidentally, that nicely reveals the importance and validity of Julian Simon’s insight that the human mind is the ultimate resource:

http://abcnews.go.com/wire/Business/ap20040413_66.html

I thank my student Amanda Mariano for this link.

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