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.
