Opinion: How U.S. Gained Energy Success

Barron's writes: "It's not always true that the government must subsidize something to get more of it for the people. That is the default setting among politicians, as we can see from our national surpluses of grain, milk, unemployment, nonprofit companies, disabilities, and mortgage debt."

"There is another way. Consider the sudden expansion of natural gas and oil produced by hydraulic fracturing and horizontal drilling."

"Because of a mysterious force unknown to most politicians, the U.S. now produces a third more natural gas and a third more oil than it did six years ago. U.S. production of oil and associated liquids in 2012 was 11.1 million barrels a day, almost what it was in 1985. By 2015 or 2016, it should surpass the old record production level set in 1970."

"The mysterious force is liberty. It is the right to own and control private property and the right to enter enforceable contracts."

Topics: commentary