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What are the geopolitical and macroeconomic implications for the oild producers of $200 oil at 80mbd? They're already raking in more cask than they know what to do with at about $60.

I keep asking the same question over and over again, but soes anyone know where I can get my hands on a relatively up-to-date Leontieff model?

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman

by Migeru (migeru at eurotrib dot com) on Sun Jan 22nd, 2006 at 03:34:58 PM EST

With oil at those prices, I would expect high inflation.  In part we would see a start to an economic shakedown where practices that require lots of energy (shipping food long distances, for example) will simply no longer be viable.

When I saw Deffeyes speak, he kidded about learning to like to eat turnips and potatoes.

by ericy on Sun Jan 22nd, 2006 at 08:48:07 PM EST
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I like turnips and radishes...

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Migeru (migeru at eurotrib dot com) on Mon Jan 23rd, 2006 at 05:38:29 AM EST
[ Parent ]
To add to ericy's comment, this represents the kind of wealth transfer that we last saw in the colonial periods. So maybe that is the place to look for ideas of effects.
by Metatone (metatone [a|t] gmail (dot) com) on Mon Jan 23rd, 2006 at 04:32:17 AM EST
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