Happy Friday from the Oil & Gas Industry!! Here is a our fun FYI for the day.
Courtesy of Forbes:
Oil is wealth. Not just wealth for producers, but wealth for everyone who uses it.
The historical use of cheaper, more-concentrated, and cleaner energy sources seems to be one of the most direct causes of economic growth. Even more importantly, it causes vast improvement in the human condition. Simply put, better sources of energy increase productivity and produce fewer negative externalities. This effect is huge. Cheap, abundant energy lifts nations out of poverty. China understands this. Failure to secure energy supplies dooms nations to collapse. The Mayans found this out too late.