Ed. note: Julián Salazar Velásquez, geologist and petroleum engineer in the Mexican and Venezuelan oil industries, is a leading educator and proponent of free market energy. He is author of numerous articles and Gerencia Integrada de Campos de Hidrocarburos” (2020), a primer on the oil industry value chain. His four-part world view began with Part I and Part II and concludes tomorrow with Part IV.

If institutions and governments consider hydrocarbons and coal as a curse, what will follow is a great retrogression, not unlike historical precedents of collapsed civilizations. Incredibly, this has already occurred in several countries.

Most have witnessed the benefits from fossil fuels, first coal and then oil and gas. Yes, atmospheric CO₂ emissions have increased, but so have the living standards of a record number of people, what is called The Great Breakthrough.…

Ed. note: Julián Salazar Velásquez, geologist and petroleum engineer with a mulit-decade career in the Mexican and Venezuelan oil industries, is a leading educator and proponent of free market energy. He is author of numerous articles and Gerencia Integrada de Campos de Hidrocarburos” (2020), a primer on the oil industry value chain. His four-part world view began yesterday and continues in Part III, and Part IV.

Part II: Hydrocarbons: Curse or Blessing?

The anti-fossil-fuel crusade by environmental groups has attracted financing from Russia (Figure 3) to reduce competition from oil and gas in areas of Europe, Canada and the US, as reported in 2017 in National Review by Austin Yack. His investigation showed that in 2012, an attempt was made to grant Chevron a license in Bulgaria to explore and produce shale gas.…

Ed. note: Julián Salazar Velásquez is a geologist and petroleum engineer with a nearly 50-year career in the Mexican and Venezuelan oil industries. A leading educator and proponent of free market energy, he is author of numerous articles and Gerencia Integrada de Campos de Hidrocarburos (2020), a primer on the oil industry value chain. His four-part world view starts today and continues this week in Part II, Part III, and Part IV.

The current depiction of the oil and gas industry is not only incorrect but worrying. In the more than two years that I have been educating at conferences, in courses, in articles, and in my book—I have seen how unsound dogma threatens progress and prosperity in our countries.

Background

In December 2021 in Petroleum Magazine, I published “Energy Transition or Transgression?…