Quote:
Originally Posted by Azure
Except the only reason NG got so cheap in NA was because of technology advances made by private companies that made it easier and cheaper to extract NG. Now there is a glut of NG out there.
Sure, market incentives can work if applied properly, but considering the government(US, and Canada till recently) still subsidized the oil industry, the results are debatable.
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Yes, imagine if the US had instead put huge penalties on the oil industry.
Then there would likely have been no private companies looking for advanced technology because of lack of profit motive. There would have been no significant increase in oil and natural gas productionin North America. And CO2 levels, along with energy prices, would likely have both increased dramatically.