Government Hiding Inflation Behind Gas Prices

Texas oil production is higher than it’s been since 1985. It has doubled in less than three years, and the boom doesn’t seem to be stopping anytime soon. Meanwhile, gas prices keep going up. Why? The most major reason is inflation. If you look at an inflation-adjusted curve for gasoline prices, you’ll notice that inflation-adjusted prices have gone up and down over the past eighty years or so based on supply and demand, but during that fluctuation, the non-adjusted price of gas has done Read more […]

Abiotic Oil: Is “Fossil Fuel” a Misnomer?

Wikipedia defines “fossil fuels” as “fuels formed by natural processes such as anaerobic decomposition of buried dead organisms. The age of the organisms and their resulting fossil fuels is typically millions of years, and sometimes exceeds 650 million years.” If this is true, fossil fuels are not being made anymore. This would mean then that oil is a fixed-quantity, non-renewable resource that we are using to depletion. When it’s gone, it’s gone. But wait. The strangest thing Read more […]