Editorial Board

One More Reason for a Carbon Tax

Uncertainty over how much accessible shale oil and gas remain underground hinders the development of renewable power. The solution is a national carbon tax.
A better strategy for stopping the flow.

The shale revolution is over, says Astenbeck Capital Management LLC's Andrew J. Hall, the so-called god of crude oil trading. And the coming supply shortage will push the price of oil as high as $150 a barrel within five years. Or maybe not: The shale revolution is really just getting started, others argue, and oil prices will stay at about $100 a barrel for years or decades to come.

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