Editorial: Free markets and U.S. energy independence

"Energy resources are so limited that not only can't the present living standard of the United States be available to all mankind, it is not likely to continue in this country beyond the present decade."

_Lawrence Rocks and Richard P. Runyon, "The Energy Crisis," 1972

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"The U.S. Just Became a Net Oil Exporter for the First Time in 75 Years - Shale Boom Has Boosted U.S. Crude Oil Shipments to Record"

_Bloomberg News headline, Dec. 6, 2018

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The stunning turn of fortunes was largely overlooked in a whirlwind of other Washington news this month: Nearly half a century of free-market initiatives and government encouragement has turned what long looked like an American weakness into a strength. "We're becoming the dominant energy power