ECON 101
27 April 2006
The Editor, Christian Science Monitor
To the Editor:
Richard Heinberg of the Post Carbon Institute wants governments to sign an international treaty through which they agree to reduce their countries' oil consumption (Letters, April 27). Such a treaty is unnecessary. If oil supplies continue to shrink relative to demand, petroleum's price will continue to rise. This higher price will cut oil consumption far more effectively and efficiently than will any international treaty.
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
The Editor, Christian Science Monitor
To the Editor:
Richard Heinberg of the Post Carbon Institute wants governments to sign an international treaty through which they agree to reduce their countries' oil consumption (Letters, April 27). Such a treaty is unnecessary. If oil supplies continue to shrink relative to demand, petroleum's price will continue to rise. This higher price will cut oil consumption far more effectively and efficiently than will any international treaty.
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Posted by Don Boudreaux on
Thursday February 8, 2007 at 6:26am