If I were to ask you how much oil you think there is in the world right now, what would you answer? While growing up, I kept hearing the same story: oil can only get more expensive over time, leaving people and nations fighting over its scarce remains.
While it's true that oil will eventually disappear, its price doesn't seem likely to reach the sky any time soon. On the contrary, the price of oil reaching negative numbers a couple of weeks ago left many baffled as to what exactly happened.
While we haven't reduced our cravings just yet, countries like the U.S. seem to have produced more oil than anyone can really make use of right now. A scenario no one could have deemed possible, given its scarce nature. This is a story about the chase for energy independence and a clever, albeit controversial invention, going back to the 1970s.
Podcast Episodes
A Glut in Oil | The Daily
“Something weird happened last week. It was something that millions of people who have faced years of painful prices at the gas pump never expected: The cost of a barrel of oil dropped into the negatives. Today, we explore why this happened, and what it reveals about the state of the economy.”
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Has Fracking Fueled Its Own Undoing? | The Journal
“Fracking made the U.S. the top oil producer in the world. WSJ's Christopher Matthews explains what drove the fracking boom and what may cause its undoing.“
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Podcast
Boomtown
“In a rugged corner of West Texas, billionaire wildcatters and roughnecks are fueling an oil boom so big it’s reshaping our climate, our economy, and our geopolitics. This modern-day gold rush has sent both big oil companies and scrappy start-ups scrambling to secure a piece of the action.“
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