Economics

[bell-the-cat]

Re: Economics

Shale Gas: a renaissance in US manufacturing?

What next - arrows: a renaissance in US armaments; horses: a renaissance in US transporation; witch burning: a renaissance in US crime enforcement?

Extracting oil and gas from shale was a crude 19th-century industry that was made obsolete by the end of that century by drilling techniques. That shale is being reconsidered now is only because all the accessable oil fields in America have been run dry.

[bell-the-cat]

Re: Economics

Shale gas brings along some scary environmental issues. It has been known to contaminate ground water which people use for drinking among other issues.

Extracting (or more correctly, making) oil/gas from shale is also very energy intensive - though it is not quite as bad as the oil from tar sands process.

Pandering to both industries is behind Obama's refusal to let America ratify climate change and emission restrictions. Obama is probably more in the pocket of US energy suppliers than even Bush was. Bush did his mass killing on the small scale, on a country by country basis - Obama, a bigger thinker, prefers to take a global approach to his killings.

[Haykakan]

Re: Economics

Shale gas brings along some scary environmental issues. It has been known to contaminate ground water which people use for drinking among other issues.

[KarotheGreat]

Re: Economics

Here is a nice PDF by PWC about shale gas called: Shale Gas: a renaissance in US manufacturing?

http://www.pwc.com/en_US/us/industrial-products/assets/pwc-shale-gas-us-manufacturing-renaissance.pdf

The potential of shale gas is huge and can lead to an unimaginable boom of the US economy and also drop the prices for gas along the way. if I am correct the price is 3$ for one cubic meter if I am not mistaken.
However this will also have huge impacts on the Middle East and Russia. It seems Shale gas will be a major game changer.

[KarotheGreat]

Re: Economics

I have one question for people who invested in facebook: Where you guys retarded? From what I get is that not enough info was released and that facebook didn't even have a plan how they would be profitable. Also the fact that many major investors stated far away from those stocks tells you everything you need to know.

Here is a little and very informative video about comparative advantage. Ricardo rules!

[Haykakan]

Re: Economics

Economics is a very dynamic subject. I look forward to interesting discussions in this forum. Here is a very interesting segment you should watch.

http://www.youtube.com/watch?v=byD4k-pumMo

[KarotheGreat]

A thread to discuss economic theories and great economists.
To get the ball rolling I'll post the theory that won the noble price here:

http://www.nobelprize.org/nobel_prizes/economics/laureates/2012/popular-economicsciences2012.pdf

Stable matching: Theory, evidence, and practical design
This year’s Prize to Lloyd Shapley and Alvin Roth extends from abstract theory developed in the 1960s,
over empirical work in the 1980s, to ongoing efforts to find practical solutions to real-world problems.
Examples include the assignment of new doctors to hospitals, students to schools, and human
organs for transplant to recipients. Lloyd Shapley made the early theoretical contributions, which were
unexpectedly adopted two decades later when Alvin Roth investigated the market for U.S. doctors. His
findings generated further analytical developments, as well as practical design of market institutions.
Traditional economic analysis studies markets where prices adjust so that supply equals demand. Both
theory and practice show that markets function well in many cases. But in some situations, the standard
market mechanism encounters problems, and there are cases where prices cannot be used at all to
allocate resources. For example, many schools and universities are prevented from charging tuition
fees and, in the case of human organs for transplants, monetary payments are ruled out on ethical
grounds. Yet, in these – and many other – cases, an allocation has to be made. How do such processes
actually work, and when is the outcome efficient?