Remember “peak oil”? We were solemnly lectured that the world was running out of hydrocarbon energy sources, so we must immediately lower our standard of living and reduce energy consumption. But as with all Malthusian predictions of shortage, that forecast failed to reckon with human ingenuity and the wonder of the price system stimulating new supply. The sky-is-falling faction turned to equally fallacious predictions of global warming as a means to bludgeon others into reducing their standard of living (while the warriors like Robert Kennedy and President Obama keep their private jets). Meanwhile, in the real world, energy supplies, in...