Newspapers tend to offer good coverage of their city’s main industry. So if you want financial news, read the New York Times or the Wall Street Journal. If you want entertainment news, read the Los Angeles Times. If you want political news, read the Washington Post. If you want news about the oil industry, read the Daily Oklahoman.
It even has an energy editor, Adam Wilmoth, who reported on an eye-opening industry symposium at the University of Oklahoma. We learn about the impact of new oil production technology–such as fracking, horizontal drilling, and oil shale extraction–which has transformed our energy situation from scarcity to unimaginable abundance.
But some will not like to hear this, especially the point about how, in light of the new superabundance, it’s now not bad for energy consumption to go up. And, if these figures are correct, there may not be that much economic impetus for alternative energy sources. Much of the new technology has made oil production more environmentally friendly–there are now only 500 active rigs, pumping far more than the 4,500 rigs in 1981 and the 1,500 rigs in 2014. But those worried that burning carbon contributes to global warming will be frustrated that economic forces will be working against them. And we Oklahomans do not like all of our new earthquakes, which are apparently a by-product of the new oil industry.
Still. . .isn’t energy abundance a good thing and better than the alternative? Or not?