We mention this because that blessing of American jurisprudence helps explain one of the few bright patches in the Obama economy—the booming production of shale gas and, increasingly, oil. The U.S. ranked 159th in GDP growth last year. But in natural gas production, it’s now No. 1.
How did that happen? Partly it’s the luck of geology, though plenty of other countries have abundant shale resources. Partly, too, it’s American technological leadership in developing hydraulic fracturing (fracking) and horizontal drilling. But those techniques are now widely understood the world over."
