The Oil Drum versus Econbrowser

Here is a comment on Hamilton's economic perspective on oil prices at The Oil Drum. "Heading out" concludes with:

... there are more economists out there who do not understand the true situation, but are willing to go on the talk shows and comment anyway than there are geologists or petroleum engineers that can be either found, or bothered to refute them. And as a result the general public will not be sufficiently warned in time, and will not appreciate the scale of the problem until after it has arrived.

Of course, we at ENV-ECON probably all agree with Hamilton, but the comment is an interesting read.

Comments

[odograph]

Am I to assume all you at ENV-ECON were made rich by your oil options?

[John Whitehead]

Odograph, Um ... no, bad assumpton. But we do like markets!