Category: Energy & Tech

Of Rigs & Steeples

>> Click here to view a PDF of this article. On Father Brian Gross’s second day in Watford City, he drove from his church to the Outlaws Bar & Grill downtown. It was late on a Friday afternoon in June 2012, and the place was thronging with roughnecks and geologists, engineers and construction hands, the whole range of men who had headed to a corner of North Dakota for the fracking boom. Father Gross took a moment in the parking lot just to count license plates; he lost track after 32 states. The next afternoon, the young priest drove...

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Oil: The Once & Future Fuel

Shale oil has the potential to reshape the global economy, and increase U.S. energy security, independence and affordability in the long term Mark Mills | Author and Senior Fellow, Manhattan Institute >> To view referenced charts, click here to download a PDF version of this article. If oil didn’t exist, we’d invent it. It is a uniquely dense fuel with Goldilocks attributes: just the right combination of transportability, storability, safety and cost. That’s why civilization consumes nearly $2 trillion worth of oil a year. It’s the world’s largest traded commodity, with food in second place trading at 20 percent less. The shale oil boom,...

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Through a Crystal Ball Darkly: The Economics of Oil Prices

The steep decline in oil prices since mid-2014 and current volatility fuel intense speculation about future prices. Although desirable, is it possible to predict oil prices? Slavisa Tasic, PhD | Author & Associate Professor of Economics, University of Mary >> View a PDF version of this article “But gentlemen, it is all so infinitely complicated.” This favorite phrase of Gustav Schmoller, a 19th-century German economist, applies to many economic situations—especially predictions. While I would be the first to admit that physicists are smarter than economists, I would also say that economics is more difficult. In the natural sciences, there are constants, measurable variables and experiments to...

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