I recall the fear over peak oil, and that fear is the basis for much of the push for renewables like solar and wind. As much as that is superficially a good idea, the real energy pool is in oil/gas/coal, and making that energy cheap and plentiful is a ticket to high living standards.
"2017 has already been a banner year for American oil production. U.S. shale producers have gotten their feet underneath them once again, adapting to the low oil price environment by cutting costs and improving efficiencies en route to turning a profit at $50 crude, and we’ve seen output surge accordingly. Since last October, U.S. oil production has increased more than 900,000 barrels per day, but according to the Energy Information Administration (EIA), the party’s just getting started—it expects American producers to break a 47 year old record for production in 2018. . . .
The United States is already the world’s biggest producer of oil and gas, thanks to a recent surge in production of hydrocarbons trapped in shale. Fracking has catapulted the U.S. to the front of the energy producing pack, so to speak, and now it’s going to hurtle us past another important milestone, into uncharted territory.
Policymakers and the public are both still playing catch-up to this extraordinary transformation. For decades, the U.S. energy debate was framed in terms of scarcity, as the legacy of the Arab oil embargo of the 1970s loomed large in American minds. We’ve moved far, far beyond that, as next year’s projected milestone shows, into a new era of energy abundance.
And just as we once transitioned from a discussion of achieving energy “independence” (a farcical idea) to shoring up energy “security,” we might now shift again to discussing how to achieve American energy “dominance,” as the Trump Administration has described it."