December 23, 2014

Quote of the Day

Fracking has now upended energy markets, pummeled petrodictators, confounded OPEC, forged deeper North American economic ties, slashed U.S. greenhouse-gas emissions to their lowest level since 1995, and sunk a nail into the coffin of most renewable-energy schemes (though there will be no slaying that zombie, as our future historian would also know).

Fracking is one industry. In time, the advantages it has given the U.S. will fade as the technology is more widely disseminated. Then it will be on to the next thing. Which, it is safe to say, will also be of American origin and design.

Here, then, is the larger lesson our future historian will draw for her students: Innovation depends less on developing specific ideas than it does on creating broad spaces. Autocracies can always cultivate their chess champions, piano prodigies and nuclear engineers; they can always mobilize their top 1% to accomplish some task. The autocrats' quandary is what to do with the remaining 99%. They have no real answer, other than to administer, dictate and repress. -- Bret Stephens, WSJ Ed Page

Quote of the Day Posted by John Kranz at December 23, 2014 3:11 PM
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