Abstract
From the post:
For all the talk of a new-energy revolution, one of the biggest energy shifts underway today is fundamentally an old-school one: a boom in oil production in the Permian Basin, a massive swath of land that sprawls across West Texas and southeastern New Mexico. The Permian is where, nearly a century ago, a gusher known as the Santa Rita No. 1 all but inaugurated the Oil Age. Today’s Permian boom resembles those of the past century in two key respects. It results from steady improvement in the technology that’s used to pull oil from the ground. And it is reshaping the geopolitics of energy.