The Other Strategic Reserve

Whatever object humans chose as a store of value, its value would rise, and because more of the object can always be made, others would produce more of the object to acquire the value stored in it. The Yapese had O'Keefe bringing explosives and advanced boats to make more Rai stones for them and acquire the value stored in the existing stones. Afri

In the case of fracking, the negative emotional reactions associated with fossil fuels have often outweighed geopolitical considerations about energy autarky, leading to fracking bans in Vermont, New York, Maryland, and Washington.

As Chapter 7 shows, fracking, for all its environmental downsides, has largely liberated America from the dangers of being dependent on a static yet declining industry.

(Note that there is a fairly large swath of people that think of themselves as “free market advocates” that will be shocked to find out how insolvent the current system is and how non-market oriented it is.