Moody’s downgraded the US credit rating, Gulf states agreed to more than $1T in US investments and joint enterprises during a visit by Trump to the Middle East...
You've got the economics of the oil price backwards in that sentence "The energy sector is in the midst of a protracted decline. This is good news for the environment."! A higher price would discourage even more consumption of course, benefiting the environment more. This is why economists support Pigovian taxes.
Good point! But I don't think that renewables undercutting oil prices so that many marginal production places are not working increases the amount of CO2 produced :)
It might be helpful to clarify that 906k number. My best guess is this means it was 906k/year over the course of the month, but I'm not sure if that's right.
You've got the economics of the oil price backwards in that sentence "The energy sector is in the midst of a protracted decline. This is good news for the environment."! A higher price would discourage even more consumption of course, benefiting the environment more. This is why economists support Pigovian taxes.
Never reason from a price change. It depends on *why* the price is changing
I've heard this saying before, but I don't really get it. E.g., if US 10y treasury yields increase why can't I reason from that?
Because you often get opposite conclusions depending on whether the price change was caused by a supply shock or a demand shock
Good point! But I don't think that renewables undercutting oil prices so that many marginal production places are not working increases the amount of CO2 produced :)
Small note!
> net migration peaked at 906k in June 2023
It might be helpful to clarify that 906k number. My best guess is this means it was 906k/year over the course of the month, but I'm not sure if that's right.
Thanks. Seems like migration figures are computed yearly but June to June, see <https://www.gov.uk/government/publications/migration-advisory-committee-report-on-net-migration/net-migration-report-accessible>