Archive for March, 2012

GAS MATH

Thursday, March 22nd, 2012

The Republican contenders for president, Newt Gingrich in particular, have been attacking President Obama for not doing enough to bring down oil prices. This sounds great on the campaign trail, but it doesn’t have much to do with economic reality.
Current world oil consumption is 80 million barrels per day. The US consumes 21 million barrels [...]

by Michael Baumer