Tuesday, December 10, 2013

Technical Note: The US doesn't have 'Enormous Oil and Gas Reserves'

We have enormously talented oil and gas explorers and producers.  Our reserves are probably normal for a country of our size and we've most certainly produced a larger share of them than anyplace else. It is our system of private mineral rights and oil and gas industry as opposed to the state kleptocracy models of the third world or the King Owns It All of Europe that gives us dominance of the industry. It's amazing what you can do by just not being stupid.

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