Industrial Insight

Gas price trend down or u shaped? | January 17, 2011

http://mjperry.blogspot.com/2011/01/update-on-stupidest-man-alive-kerfuffle.html

Friday, January 07, 2011

Update on the “Stupidest Man Alive” Kerfuffle; We’ll Never Run Out of the Ultimate Resource

The significant downward trend in real gas prices over the last century seems to generally support Julian Simon’s cornucopian view that the human resources of innovation, discovery, and substitution will always be strong enough to overcome and offset increases in population and the accompanying rising demand for natural resources like oil and gas, which will be reflected in stable or falling real prices of natural resources over time, e.g. gasoline since 1919.

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About author

I'm the executive vice president for a steel casting trade association, the Steel Founders' Society of America. I've got a crazy wife, five crazy children, three crazy people that married into the family, and two crazy fun little grandsons.

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