Eagle Ford Oil: ‘Resources are Not, Resources Become’ (and new jobs galore...
“Nothing is more fatal to a realistic and usable understanding of resources than the failure to differentiate between the constants of natural science and the relatives of social science, between the...
View ArticleThe Great Resource Debate (Part III: Pessimists get Optimistic!)
[Editor note: The posts in this series are The Great Energy Resource Debate (Part I: Peak Oil was … is here!) and The Great Energy Resource Debate (Part II: Neo-Malthusian Alarmism). Part IV will look...
View ArticleOpen-Ended Resourceship
“If resources are not fixed but created, then the nature of the scarcity problem changes dramatically. For the technological means involved in the use of resources determines their creation and...
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North America’s Incredibly Expanding Resources (New study puts ‘peak’ oil,...
“Human beings create more than they destroy.” - Julian Simon, The Ultimate Resource 2 (Princeton, N.Y.: Princeton University Press, 1996), p. 580. “People have since antiquity worried about running out...
View ArticleOpen-Ended Resourceship: Bring on 2012!
“If resources are not fixed but created, then the nature of the scarcity problem changes dramatically. For the technological means involved in the use of resources determines their creation and...
View ArticleExpanding ‘Depletable’ Resources: Solving a Paradox
The following was published at Econlib (Library of Economics and Liberty by Rob Bradley with the editorial help of David R. Henderson. A website project of Liberty Fund, Econlib offers concise, online...
View ArticleBastiat on Malthus: Wisdom from 1850 for Optimism Today
“If we face the facts courageously, we shall see that a large area has been left open for the exercise of our initiative.” The holiday season is not only a time to count our blessings, but also to...
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U.S. Energy Innovation (Part I: Expanding “Depletable” Resources)
Ed. note: This three-part post series (Part II: Coal Issues tomorrow; Part III: Federal Lands Potention on Friday) is taken from testimony presented by Mary J. Hutzler on February 5, 2013, before the...
View ArticleMcClendon’s Price Lesson at Chesapeake (“Depletable” resources expand)
“[Free energy] markets tend not only to clear, but to clear faster and at lower prices than anticipated.” The resignation of Aubrey McClendon as CEO of Chesapeake Energy provides a good case to study...
View ArticleDepletionism Reconsidered: A 2004 Article Revisited
[Editor Note: This nearly decade-old article, Are We Running Out of Oil?, is reprinted by the author for its relevance today. A likely error in the article (even Julian Simon adherents can be too...
View Article“Peak Oil Is Dead”: M. A. Adelman Revisited
“The distinction between renewable and non-renewable resources is tenuous and perhaps in the last analysis untenable.” - M. A. Adelman, The Economics of Petroleum Supply (Cambridge: The MIT Press,...
View ArticleM. A. Adelman on Resourceship (Part II)
“The distinction between renewable and non-renewable resources is tenuous and perhaps in the last analysis untenable.” - M. A. Adelman, The Economics of Petroleum Supply (Cambridge: The MIT Press,...
View ArticleThe Liberating Theory of Resourceship
“If resources are not fixed but created, then the nature of the scarcity problem changes dramatically. For the technological means involved in the use of resources determines their creation and...
View Article“Peak Oil Has Arrived:” Paul Krugman on Mineral Scarcity (2010 prediction...
“What the commodity markets are telling us is that we’re living in a finite world, in which the rapid growth of emerging economies is placing pressure on limited supplies of raw materials, pushing up...
View ArticleRefrack Resourceship: Why the Carbon-based Energy Era Is Still Young
“[T]hough the oil-market crash has put the nation’s energy boom on hold, some oil-technology companies are pursuing what they say will be a second American shale revolution … That belief lies partially...
View Article‘Are We Running Out of Oil?’ (2004 essay revised)
This essay, published twelve years ago in PERC Reports (“the magazine of free market environmentalism”), challenged the then-popular theory that oil production would inexorably reach a maximum and...
View Article“Peak Oil Has Arrived:” Paul Krugman on Mineral Scarcity (2010 prediction...
“What the commodity markets are telling us is that we’re living in a finite world, in which the rapid growth of emerging economies is placing pressure on limited supplies of raw materials, pushing up...
View ArticleRefrack Resourceship: Why the Carbon-based Energy Era Is Still Young
“[T]hough the oil-market crash has put the nation’s energy boom on hold, some oil-technology companies are pursuing what they say will be a second American shale revolution … That belief lies partially...
View Article‘Are We Running Out of Oil?’ (2004 essay revised)
This essay, published twelve years ago in PERC Reports (“the magazine of free market environmentalism”), challenged the then-popular theory that oil production would inexorably reach a maximum and...
View ArticleMineral Resource Fixity and Boundary Effects
“We don’t observe the boundary effects in our modern economy and haven’t throughout oil’s history because reserve estimates have grown over time and will continue to grow for the foreseeable future.”...
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