Archive for February 8th, 2013

BP Chief Economist’s Explanation of “North America’s oil and gas renaissance” Should Win Chutzpah Award

An opinion piece by the chief economist of BP, Christof Ruhl, caught our eye, for its sheer chutzpah if nothing else. According to Mr. Ruhl, it turns out that "North America’s oil and gas renaissance, which has the potential to fuel a U.S. industrial recovery with cheaper energy, is not a happy accident of geology and lucky drilling." Instead, Ruhl asserts, this "renaissance" occurred because of "open access, sound government policy, stable property rights and the incentive offered by market pricing unleashed the skills of good engineers."
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