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Interesting, Even Brain-box Ferguson Gets It Wrong

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This article in the Torygraph by Prof Niall Ferguson:


shows that he only superficially understands high oil prices, and he completely fails to understand the solution. He merely talks about the "iron rule of demand and supply", but makes no mention of the plateau in production over the last 18 months. His proposed solution - to power cars on ethonol - was long ago disproved as a fallacy. There isn't the land to feed cars and people. There may be just about enough land to feed the people if we are lucky. At best, we will feed the cars while billions are left to starve in the Third World. That could happen.

It's disappointing that a guy with the highest academic credentials, and unquestionably the highest calibre of mind, cannot see the simple stuff.

It does not fill you with much confidence, but maybe explains why nothing is being done to prepare for energy shortages.

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  • 337 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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