The much noted crisis in energy that is no crisis at all

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THE BOTTOMLESS WELL: THE TWILIGHT OF FUEL, THE VIRTUE OF WASTE, AND WHY WE WILL NEVER RUN OUT OF ENERGY

By Peter W. Huber and Mark P. Mills

Basic, $26, 214 pages

REVIEWED BY DOUG BANDOW

We seem to be forever living in an energy crisis. A quarter century ago the U.S. suffered through gas lines, threats of rationing, and speeches on malaise. Today Congress struggles to pass an inefficient, pork-filled bill in the name of helping America become energy independent.

It's all nonsense. Even as the United States and the industrialized world use vast quantities of oil every year, economically recoverable petroleum reserves worldwide increase. Changing economics and technology have put ever more natural reserves into people's reach.

Peter W. Huber and Mark P. Mills, of the Manhattan Institute and Digital Power Capital, respectively, have produced a wonderful book, which confounds the conventional wisdom of limits and should put virtually every government energy program out of business.

It is widely believed that people should use less energy. Save money, protect the planet, ensure plenty for our descendents. Paul Ehrlich, the biologist who so spectacularly erred in predicting population disaster, once declared that "cheap abundant energy. . .would be equivalent to giving an idiot child a machine gun."

Actually, say Mr. Huber and Mr. Mills: "More energy consumption isn't worse, it's better. The idiot children are right."