Sunday, January 2, 2011

Energy cornucopia? (Econbrowser)

Don Boudreaux and Mark Perry are among those who regard John Tierney's claims of energy cornucopia to be persuasive.
Giant new oil fields have been discovered off the coasts of Africa and Brazil. The new oil sands projects in Canada now supply more oil to the United States than Saudi Arabia does. Oil production in the United States increased last year, and the Department of Energy projects further increases over the next two decades.
Let me discuss each of these observations in turn.

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