Thursday, January 11, 2007

Sooner or later ...

Click here: Oil Falls to $53 as U.S. Fuel Stocks Rise - New York Times

Sooner or later, markets work.

Sooner or later, the only real resource --- renewable --- kicks in. It is the mind of man.

Three hundred or-so years ago, coal was a rock. A hundred and fifty or-so years ago oil was black gunk that fouled the pleasant streams of Pennsylvania. Seventy or-so years ago uranium was a rock.

This has been understood by many, but no one put a name on it as well as the late Julian Simon in his magum opus The Ultimate Resource

(Pic of Julian Simon goes here)

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