PERC’s Terry Anderson – an incredibly creative and insightful economist and economic historian – explains in today’s Wall Street Journal that it’s safer to drill “in ‘the backyard.’” Here’s a key ‘graf:
When kids play baseball, there is a risk that windows will get broken. Playing on baseball fields rather than in sand lots, however, lowers the risk considerably. Putting so much onshore land off limits to oil and gas development is like closing baseball parks. More windows will be broken and more blowouts result where they are difficult to prevent and stop.