Ed. note: Julián Salazar Velásquez, geologist and petroleum engineer with a mulit-decade career in the Mexican and Venezuelan oil industries, is a leading educator and proponent of free market energy. He is author of numerous articles and Gerencia Integrada de Campos de Hidrocarburos” (2020), a primer on the oil industry value chain. His four-part world view began yesterday and continues in Part III, and Part IV.

Part II: Hydrocarbons: Curse or Blessing?

The anti-fossil-fuel crusade by environmental groups has attracted financing from Russia (Figure 3) to reduce competition from oil and gas in areas of Europe, Canada and the US, as reported in 2017 in National Review by Austin Yack. His investigation showed that in 2012, an attempt was made to grant Chevron a license in Bulgaria to explore and produce shale gas.…

Ed. note: Julián Salazar Velásquez is a geologist and petroleum engineer with a nearly 50-year career in the Mexican and Venezuelan oil industries. A leading educator and proponent of free market energy, he is author of numerous articles and Gerencia Integrada de Campos de Hidrocarburos (2020), a primer on the oil industry value chain. His four-part world view starts today and continues this week in Part II, Part III, and Part IV.

The current depiction of the oil and gas industry is not only incorrect but worrying. In the more than two years that I have been educating at conferences, in courses, in articles, and in my book—I have seen how unsound dogma threatens progress and prosperity in our countries.

Background

In December 2021 in Petroleum Magazine, I published “Energy Transition or Transgression?…

Ed. Note: In mid-2019, MasterResource published a post on a notable political capitalist in the history of the energy industry, the late James E. Rogers, longtime CEO of Duke Energy. With that company’s rolling blackouts (“load shedding”) over Christmas weekend for a half-million customers “for the first time in the utility’s history“, it is worth remembering the damage done to free markets and electric reliability by the political track chosen by one executive. (The post is reproduced below with minor edits.)

At 41 [in 1988], [James Rogers] was named CEO of PSI Energy Inc., a small, financially troubled Indiana utility. Breaking ranks with others in the electric-power industry, he supported legislation putting caps on sulfur-dioxide emissions. “Some of my guys thought I was drinking the environmental Kool-Aid,” he said later.

Ed. Note: With the failing climate narrative, it’s time to play offense in energy/environmental debates. Chris Wright of Denver-based Liberty Energy Inc., previously profiled at MasterResource, drawing upon his company’s 99-page 2022 sustainability report, “Bettering Human Lives,” offers a compelling argument. [1]

“Let’s all check our desires to be fashionable or hip when we talk about energy. Energy is so critical to human well-being that we must speak honestly, candidly, and frequently to combat the increasingly damaging plague of energy ignorance that has taken over our country and much of the western world.”

Chris Wright is a member of the New School of moral-high-ground fossil-fuel executives. So is Adam Anderson, CEO of Innovex Downhole Solutions, who exposed North Face/VF Corporation’s anti-petroleum stance. Another notable is Vivek Ramaswamy, Executive Chairman, Strive Asset Management, who exhorts more oil and gas production from the companies he invests in “to both create significant shareholder value and contribute to human flourishing.”…