Lomborg has a graph on page 138 of Skeptical Environmentalist showing metal prices since the mid 1950's. I have reproduced the essence of his graph below:
As you can see, prices are trending lower and support Lomborg's thesis that in the long run commodity prices fall. The picture is a little different though if you look at IMF metal prices since 2000:
IMF Commodity Metals Price Index Monthly Price
Combining 2000-2010 data with the original graph gives:
We can see that in the last decade, prices have exceeded and still exceed the highest values of the previous four and a half decades. Which way next?
No comments:
Post a Comment