Within the last decade, technology advances have made it possible to unlock more oil from old fields, and, at the same time, higher oil prices have made it economical for companies to go after reserves that are harder to reach. With plenty of oil still left in familiar locations, forecasts that the world’s reserves are drying out have given way to predictions that more oil can be found than ever before. (New York Times, Monday)
You mean the price system works? No way!
FEE Timely Classic
The Sustainable–and Young–Hydrocarbon Energy Age by Robert L. Bradley, Jr.