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Interestingly enough pretty much the same factors pushed the shale revolution in oil extraction.
by kneebonian 4y ago
Interestingly enough pretty much the same factors pushed the shale revolution in oil extraction.
- JumpCrisscross 4y ago> the same factors pushed the shale revolution in oil extraction The salient difference being the state intervention this time around. Fracking was largely private R&D.
- stonogo 4y agoThe Department of Energy literally invented modern fracking; see the Eastern Gas Shales Project, which lasted for a decade and a half. Early commercial fracking worked off of shale mapping performed at Sandia National Lab; reference here https://energy.sandia.gov/wp-content/gallery/uploads/FINAL-HydraulicFracturing-Final-wSAND1.pdf https://energy.sandia.gov/wp-content/gallery/uploads/FINAL-H... (which research continues). Finally, the government provided $10 billion in tax cuts for unconventional gas drilling over the past thirty years, so even that private R&D was subsidized.
- WeylandYutani 4y agoThe free market is considerably more government driven than people want to believe.
- kortilla 4y agoIndeed, but $10 billion is nothing over 30 years. More than that goes into renewable research every year. If you want a meaningful comparison it should be something like dollars per kWh.