Thinking randomly about how much of the policy space is dominated by simply waiting for oil prices to go up again. In essence waiting for another oil boom. But how likely is that? Took a look at some long term data and two things stand out. First, in terms of actual income per person (without incorporating costs of production) from crude oil sales, the 1980s oil boom was way way larger than the 2010 oil boom. Especially once you adjust for inflation. The actual oil production was not that different but the driver was population growth. In the 1980s we had circa 70 million people. By 2010 we had 170 million, but still producing roughly two million barrels per day.
Insightful question! Hoping for another oil boom like the supposed 'good old days' when Tesla is beginning to churn out electric cars and the New U.S administration has rejoined the Paris Climate Agreement. And our population growth doesn't seem to be abating any time soon. Phew!
What's the future going to be like? Are we going to keep relying on foreign remittances at the expense of brain drain? A previous article suggest we start by exporting non-oil, non-food products like the garments. Anymore workable ideas?
What is your take about our religious houses and worship centres, the impact of their teachings on economy or economic activity? Do they make or Mar? I'd like to pick your brain on this or be directed to a post or article you do have on this. Thanks
Insightful question! Hoping for another oil boom like the supposed 'good old days' when Tesla is beginning to churn out electric cars and the New U.S administration has rejoined the Paris Climate Agreement. And our population growth doesn't seem to be abating any time soon. Phew!
What's the future going to be like? Are we going to keep relying on foreign remittances at the expense of brain drain? A previous article suggest we start by exporting non-oil, non-food products like the garments. Anymore workable ideas?
What is your take about our religious houses and worship centres, the impact of their teachings on economy or economic activity? Do they make or Mar? I'd like to pick your brain on this or be directed to a post or article you do have on this. Thanks