“[T]here is a second main factor that spawns new economic fallacies every day. This is the persistent tendency of men to see only the immediate effects of a given policy, or its effects only on a special group, and to neglect to inquire what the long-run effects of that policy will be not only on that special group but on all groups. It is the fallacy of overlooking secondary consequences.”
– Henry Hazlitt, Economics in One Lesson. quoted here.
At Cafe Hayek, economist Donald Boudreaux, Professor of Economics at George Mason University, wrote an open letter to Fox News host Bill O’Reilly’s opposition to exporting U.S. oil to other countries. O”Reilly has a populist streak, and he is prone to seeing the seen and not the unseen when it comes to economics, a sin indeed to economics as a science.…
Continue ReadingA recent study from the University of Texas at Austin’s Energy Institute found “no evidence” of groundwater contamination resulting from hydraulic fracturing. Concluded lead author Charles Groat: “We found no direct evidence that hydraulic fracturing itself – the practice of fracturing the rocks – had contaminated shallow groundwater.”
Here is the list of the UT Energy Institute’s overview of findings:
[Note this post is the most popular article ever published on Master Resource. It has been now been significantly updated. Go here to see the current version.]
Trying to pin down the arguments of wind promoters is a bit like trying to grab a greased balloon. Just when you think you’ve got a handle on it, it morphs into a different shape and escapes your grasp. Let’s take a quick highlight review of how things have evolved with wind merchandising.
1 – Wind energy was abandoned well over a hundred years ago, as even in the late 1800s it was totally inconsistent with our burgeoning, more modern needs for power. When we throw the switch, we expect that the lights will go on – 100% of the time. It’s not possible for wind energy, by itself, to EVER do this, which is one of the main reasons it was relegated to the dust bin of antiquated technologies (along with such other inadequate energy sources as horse and oxen power).…
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