Monday, May 16, 2011

Bad news can be good news

When it's about the price of oil. John Quiggin on Crooked Timber tells us that gasoline consumption in the US has peaked, reflecting in part the continued rises in oil prices. And the good bit about that news is that declining consumption means declining CO2 emissions. Every cloud has a silver lining, although the over-weight petrolheads that populate western countries may not see it that way.