production

Old fallacies have a way of reappearing, especially, during times of social and economic crises. The current coronavirus crisis has opened the door to a variety of them.

That socialism as an idea could survive hundreds of years — even back to the ancient world — is a tribute to the capacity of the human mind to imagine it can create that which reality will forever decline to make possible.

Plummeting oil prices, which are largely the result of the U.S. hydraulic fracturing revolution that has nearly doubled oil production in the United States since 2008, have left many oil-exporting nations around the world reeling. The price drops have been particularly hard on nations in the Organization of Petroleum Exporting Countries (OPEC). Myriad OPEC governments are now stuck relying on dwindling oil revenues to fund large portions of their important social welfare programs, many of which are essential to maintaining national stability.

In today’s edition of the Heartland Daily Podcast, Heartland Science Director Jay Lehr joins host H. Sterling Burnett to talk about the abundant supply of oil and gas that exists due to fracking and in the future, Shale rock development and methane hydrates.