Econ Focus

Article Summary

This article discusses the rise and fall of coal oil production in West Virginia and the world. It illustrates how market demand can drive the development of new commodities. It also discusses the externalities of the impact on the environment and concludes, "Of course, the price of coal and the cost of building liquefaction plants compared to the financial and ecological costs of sticking with petroleum will ultimately be the deciding factor."

Lesson Plans

New Sense, Inc. vs. Fish 'Till U Drop or Coase Vs. Pigou
Summary: Hot debate and arguments galore whirl around this question: "Which economic approach is the most efficient and fair to resolve utility issues surrounding the use of common or public property?" This lesson will explore, examine and analyze this perplexing question by engaging in an open-ended role play simulation.
Grade Level: 9-12th

Marketplace: Oil Is a Slippery Business
Summary: OPEC is generally seen as the primary institution that controls oil prices. Is that what OPEC really does? Use this lesson to get an overview of the history and function of this institution.
Grade Level: 9-12th