How Many Miles Can You Drive on an Hour’s Wages? 100 Years in One Chart

Recently I came across this assertion in a comment box on one of my favorite websites: “The cost to fuel your car has never been higher as a percentage of disposable income.” Really? I know gasoline prices are high, but you just can’t make that assertion without looking at incomes and fuel economy, too. I […]

Irredentism and Border Disputes After Crimea: New Sources of Political Risk

Russia has successfully annexed Crimea. It continues to build its troop strength along Ukraine’s eastern border and may yet move to annex Russian populated parts of Ukraine. Russia has flaunted international law and a treaty it had signed with Ukraine and the U.S. to guarantee Ukraine’s territorial integrity. Russia’s imperialist move has increased global political […]

The New World of Energy in the New World

THE OLD STORY The old story about energy in North America was a gloomy one.  The United States (and the world as a whole) had passed peak production, and it was running out of oil. Oil imports continued to increase, and the U.S. became increasingly dependent on Middle Eastern oil, which made it increasingly vulnerable […]