Thursday, August 27, 2009

The original alternative energy market

Here's a good article by Mr. Epstein on the origins of the oil industry which posits - among other things - that oil was originally considered to be as esoteric - and as unlikely to be a candidate for financial success - as solar or wind power today.
Energy at the Speed of Thought: The Original Alternative Energy Market
What made it possible for oil to be so successful?


(No, the market was nowhere near completely free in the 19th century, but it was much freer than anything that exists today.)

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