Ed. Note: Back in May 2012, David Boaz of the Cato Institute reminisced about Robert Bradley’s 1996 treatise on oil and gas. His post follows:

At MasterResource, a free-market energy blog, Alex Epstein posts a glowing tribute to the 1996 Cato book Oil, Gas, and Government by Robert L. Bradley, Jr. (who happens to be a co-blogger at MasterResource). Oil, Gas, and Government is surely the longest book Cato ever published, and nobody knows better than I do—well, Rob Bradley does—how much work went into researching, writing, editing, and publishing it.

In these days of blogs and tweets, we’re used to consuming information in very small bites. But one of the fundamental roles of think tanks is to produce long-form research, not just talking points and congressional briefings. And Oil, Gas, and Government is very long form—1,997 pages in two volumes.

“The U.S. is now world leader in both natural gas and oil production, and for the first time in nearly sixty years, we can claim net energy exporter status. This is energy dominance realized.” – AEA Endorsement

“The American Energy Alliance’s endorsement of President Trump’s re-election is a testament to the Trump Administration’s historic actions to secure more prosperity for American families and businesses through pro-energy policy reforms.” (Trump/Pence Re-election Campaign)

Never has a U.S. President encountered such intellectual disdain and political bias toward consumer-chosen, taxpayer-neutral natural gas, oil, and coal–the mineral energies required by modern life. And never has a U.S. President pushed back in both rhetoric and action.

That president is Donald Trump, who easily goes down as the most free-market-oriented leader in energy history, easily beating out Ronald Reagan in his two terms.

“No electric car since 1902, regardless of battery or drive train, had been able to compete effectively against its contemporary internal combustion counterpart.” (– David Kirsch, The Electric Vehicle and The Burden of History. New Brunswick, New Jersey: Rutgers University Press, 2000, p. 203.)

“When government tries to pick losers and winners, it typically picks losers. Why? Because in a free market, consumers pick winners to leave the losers for government.” (- Robert Bradley, Jr. Electric Car Verdict: Another Government-Subsidized Bust, September 26, 2012.

How many times has it been stated that electric vehicles are ” a new technology.” Such was the thesis of a 2017 Think Progress article, “A Koch Front Group is Putting out Misleading Attack Ads on Electric Vehicles.”

If only journalists such as Samantha Page knew energy history.

Are there really depletable resources? The answer was “yes” if and only if there was an associated “cessation, once and for all, of technological progress.” This is clearly not the case for natural gas development.  Technological progress is alive and well, and technology is the most powerful non-price determinant of supply.  The “theory of the mine” (Harold Hotelling, 1931), not the mine, has been abandoned. (Enron Corp., The 1995 Enron Outlook. Houston, Texas: 1995, p. 8.)

Part I yesterday described my early effort to sell the idea of natural gas as a bridge fuel to environmental NGOs as part of their climate strategy. Behind this effort was Enron’s case for an expanding resource base for gas.

After severe shortages with natural gas during several winters in the 1970s, partial gas price deregulation resulted in artificially high prices, which quickly led to a supply glut and a price crash.