Freakonomic analysis of the energy "crisis"

Much has been made in the past week or two of the rising oil prices, with much prognosticating about inflation, not being able to afford to drive to Walmart (the New York Times), and other mostly negative economic impacts.

For a different view of the situation, the authors of the book Freakonomics, a popular bestseller that deconstructs the economics of a lot of different phenomenona, see no "the sky is falling" scenarios, and in fact, forecast lots of opportunities.

One of the things the authors point out is what I have been saying, which is that as oil prices go up, alternative fuel and energy systems and sources become more attractive--meaning business opportunities and new economic development alternatives. Nobody likes to pay more for gas, but the higher cost of oil is one sign that the Energy Economy is kicking into a higher gear. Is your region factoring that into its economic development plans?

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