Monday, August 7, 2023

Harold Hamm says that Government Interference in Energy Markets is a Sham and a Shame

Here are seven nuggets from Harold Hamm

  1. "Every time government intervenes in unpredictable energy markets, politicians get it wrong."
  2. Proponents passed the Fuel Use Act of 1978 because because so-called experts were sure the U.S. was running out of oil and natural gas.
  3. "When Ronald Reagan let the market work by deregulating energy, oil production soared and prices tumbled. No one worried about running out of oil anymore."
  4. "Mr. Obama said that 'we can’t just drill our way out of the problem' [because he] worried that America was going to run out of places to drill" and "spent millions on now bankrupt propositions such as the solar-energy company Solyndra."
  5. "The politicians weren’t paying attention to the amazing shale revolution." ... "Yet Mr. Biden still says wind and solar are the future."
  6. "I like to call the shale revolution the 'trillion-dollar swing.'”
  7. "We can all agree that when it comes to the most valuable natural resource—energy—it’s far smarter to trust markets than politicians to ensure a bountiful future."

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