Tuesday, January 05, 2016
Cheap Oil Is Story of the Year | The American Spectator
Why do I think the oil story and the global warming story are similar?
Can we really be so wrong about these things, or is it something else?...
Stephen Moore includes this in his article at AmericanSpectator.org:
"These stupid predictions of the end of oil have been going on for most of the last century. Just over 100 years ago, the U.S. Bureau of Mines estimated total future production at 6 billion barrels, yet we’ve produced more than twenty times that amount. In 1939 the Department of the Interior predicted U.S. oil supplies would last thirteen years. I could go on.
The wonder is that smart people like Nobel prize winners Krugman and Obama haven’t learned anything from history and instead keep regurgitating these myths about 'running out.'"