03.08.2009
An important reminder that the Marshallian scissors have two components – supply and demand. And no, oil is not different. The US 2009 economic stimulus package includes $56 billion in grants and tax breaks for clean energy projects over the next ten years and a budget of $15 billion a year to fund renewable energy projects. In addition, the US energy bill envisions an emissions cap and trade system that will finally price carbon in the US. The effects of all this will be so profound that some people believe it may herald the arrival of peak oil demand rather than peak oil supply

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