This is an excellent MUST READ article on fracking from the Economist. Check it out!
Schumpeter: The father of fracking | The Economist.
Fracking is transforming the World’s energy industries. Already widely developed in the US, the UK Government recently opened up the UK for a sizable fracking industry but this has already been challenged by environmentalists. Many people still struggle with the meaning of the word “fracking“; they also are wary of what fracking will do to the environment. In a separate series of blogs, I am sharing the experiences of German expat friend, who lives in Southern Texas, when they started fracking across the street from his house.
On another theme, the Economist article picks up on encouraging innovation and imaginative use of technology, with appropriate fiscal stimulation. Fiscal policies in Europe, for example, is focused almost exclusively on austerity at the moment, and everybody, rich, poor and future generations are suffering unnecessarily.
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