Shale oil drilling has erased memories of long gas lines in the 1970s.
U.S. crude oil production is flirting with record highs heading into the new year, thanks to the technological nimbleness of shale oil drillers .
The current abundance has erased memories of 1973 gas lines, which raised pump prices dramatically, traumatizing the United States and reordering its economy. In the decades since, presidents and politicians have made pronouncements calling for U.S. energy independence.
President Jimmy Carter in a televised speech compared the energy crisis of 1977 to “the moral equivalent of war.”…
