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Interesting Note on Oil Prices and Industry Foresight

Jul 31, 2020
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Related to today’s fuel efficiency story: America’s automakers are hardly the first folks to forge a business plan based on low oil costs (only to have the plan bite them later.) The twin towers of the World Trade Center, constructed during an era of low oil prices in the 1960s, were built without light switches. Engineers at the time crunched the numbers and found that it would be cheaper to leave the lights on 24/7 than to install the hardware to turn them off.
When oil prices jumped in the 1970s, the wisdom of that decision was proven false. Light switches were installed shortly thereafter.
Dexter Cooke

Dexter Cooke

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Dexter Cooke is an economist, marketing strategist, and orthopedic surgeon with over 20 years of experience crafting compelling narratives that resonate worldwide. He holds a Journalism degree from Columbia University, an Economics background from Yale University, and a medical degree with a postdoctoral fellowship in orthopedic medicine from the Medical University of South Carolina. Dexter’s insights into media, economics, and marketing shine through his prolific contributions to respected publications and advisory roles for influential organizations. As an orthopedic surgeon specializing in minimally invasive knee replacement surgery and laparoscopic procedures, Dexter prioritizes patient care above all. Outside his professional pursuits, Dexter enjoys collecting vintage watches, studying ancient civilizations, learning about astronomy, and participating in charity runs.
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