Time to Take the Brakes Off the U.S. Energy Industry

Canada has announced a ban (mostly symbolic) on Russian petroleum imports. The United States has not, because we have hamstrung ourselves. In spite of being the world’s largest oil producer — by far — we continue to import enormous quantities of oil and other petroleum products. That isn’t a bad thing in and of itself, but it does limit some of our options — and, in this case, it does so unnecessarily and, indeed, destructively.

There are four things to know here.

First:

The big immediate issue with U.S. petroleum production...