“Falling commodity prices in general are a good thing in a free market because, as economist Ludwig von Mises emphasized, the sole end of production is consumption. Consumption first, production second. Also the US is a net importer of both oil and natural gas, which means we consume more than we produce. So provincially speaking, the US gains more than it loses from well-to-pump or well-to-burner-tip price drops.”

Business consultant Carlos Lara and I produce a monthly financial publication, the Lara-Murphy Report, which highlights the Austrian School of economics in both academia and the financial markets. The January 2016 issue interviewed Rob Bradley of Houston, Texas, who was trained in Austrian-school economics and is a longtime historian of oil markets. This interview is reproduced below.

Robert L. Bradley Jr. is the founder and chief executive officer of the Institute for Energy Research (IER), a 501(c)3 educational foundation with offices in Houston, Texas, and Washington, D.C.…

This essay, published twelve years ago in PERC Reports (“the magazine of free market environmentalism”), challenged the then-popular theory that oil production would inexorably reach a maximum and decline thereafter. What would become the U.S. and global shale oil and shale gas boom was just getting started.

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“This time it’s for real,” says the cover story of the June 2004 issue of National Geographic. “We’re at the beginning of the end of cheap oil.”

Books and articles written by geologists, environmentalists, and others regularly announce a new era of increasing oil scarcity. 1 Today’s resurrected hero of the depletionists is M. King Hubbert (1903-1989), a Shell Oil Company geologist who a half-century ago presented a bellshaped curve depicting oil production over time. But the theory of a little-known twentieth century economist, Erich Zimmermann, suggests this is unsound.…

“I have no kind words for people who attempt to trivialise what my family and I have tolerated since a large wind farm started operating near us. We don’t see them from our home (trees), and we rarely hear them but the infrasonic emissions incite a repeating, subtle noise and vibration in our home. Used to live across from a truck yard and it did not bother me, but I cannot ignore ringing ears, severe dizziness, pressure in head, difficulty concentrating and hypertension…. We need protection just the same as any person deserves.”

– Wind victim, Mike Jankowski, in response to an article summarizing the Senate Hearings in Austalia.

Considerable evidence of negative effects to health was recorded during the Australian Senate’s call for testimonies and evidence to its Select Committee on Wind Turbines which has accumulated 471 submissions from individuals and organizations around the world, many with lengthy additions, and attachments.…

[Editor’s note: This post from 2011 is relevant today as the Losing Left tries to impugn the motives of the free-market climate/energy realists, one target being climatologist David Legates, recently profiled at MasterResource.

David Appell, part of the controversy back in 2011, in fact, reared his head again in the comments section recently at MasterResource. An active climate alarmist with very strong opinions, he hardly rebuted his rebutters. Science is supposed to be his thing; if he would like to answer for Gina McCarthy and US EPA here, he will be given the floor.]

The public editor at the New York Times, Arthur Brisbane, recently wrote in his weekly Public Editor column about the trustworthiness of Robert Bryce, the nation’s leading energy journalist who has graduated to being a top energy public policy scholar, period.…