3 Myths About Oil

In the wake of the BP oil spill, oil is again under attack as an energy source, with for example Obama using it as an argument for more government subsidies for "renewable" sources of energy and his cap and tax scheme.

Alex Epstein has a good article at Forbes where he briefly but persuasively defends oil against 3 common arguments against it-that it will run out, that it funds [Islamic]terrorism and that it produces "catastrophic climate change" (he doesn't address the oil spill argument, but while oil spills are no doubt bad, they are fortunately rare and the damage those rare spills create are very small compared to the benefits of oil).

See also his blog post about the wide benefits of oil.