Since shortly after 1859, oil has been subject to attempts to control its price, or should I say the price of its refined product, be that kerosene for lighting or, later, gasoline for autos. The first one to try was John D Rockefeller with his development of the Standard Oil Trust in the 1860s and… Continue reading The Global Implications of Oil Price Renormalization (Part 2)
Tag: texas
Don’t Fence Me In
As the frontier pushed west past Chicago in the 1840s, a problem appeared with the change from forest to prairie: the need for fencing. Farther east, wood for fencing was easy to come by, but the prairie was nearly treeless. The most common kind of fencing on the Illinois frontier was a large bush called… Continue reading Don’t Fence Me In
Old Professor by the Sea 