[Peakoil-website-changes] [DokuWiki] page changed: senate_oil_inquiry_submission

[peakoil at act-peakoil.org]

A page in your DokuWiki was added or changed. Here are the details:

Date        : 2006/02/25 22:06
Browser     : Mozilla/5.0 (X11; U; Linux i686; en-US; rv:1.7.8) Gecko/20050513 Debian/1.7.8-1
IP-Address  : 10.0.0.1
Hostname    : nermal
Old Revision: http://act-peakoil.org/dokuwiki/doku.php?id=senate_oil_inquiry_submission&rev=1140864655
New Revision: http://act-peakoil.org/dokuwiki/doku.php?id=senate_oil_inquiry_submission
Edit Summary: 
User        : 

@@ -119,9 +119,9 @@
  
  
    * Appropriate use of economics
  Economics offers some insights into human behaviour and how to
- achieve ends in the most efficient way. However economics is
+ achieve ends in the most efficient way. For instance, if oil producers in the Middle East fear their reserves will be taken unlawfully, they may sell the oil at fire-sale prices, giving the false impression that oil is plentiful. It seems their fears were justified. Respect for property rights is a basic principle of economics. Nonetheless economics is
  subordinate to ecology and needs to be seen in that context. There is
  no economy without the environment.
  
  



-- 
This mail was generated by DokuWiki at
http://act-peakoil.org/dokuwiki/