Bad oil news is much ado about very little

Bad oil news is much ado about very little

UT San Diego | May 24, 2014 | by Steven Greenhut

This problem will fix itself. The oil may be too expensive to extract right now using current techniques, but if oil prices go up there will be increased incentive to figure out how to get it out of the ground. Economists have been surprised that natural gas has become such an important part of the nation’s energy mix in the past few years, but technological advancements have opened up those vast new resources and created an economic boom in economically depressed areas of North Dakota, Pennsylvania and elsewhere. Something similar could happen here with oil if the state doesn’t squelch it.

Read more here.

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