EOG, a Texas-based producer of oil and gas, is called the Apple of oil because of the
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EOG, a Texas-based producer of oil and gas, is called the “Apple of oil” because of the company’s history of developing innovative methods to extract energy from shale rock. Using one of EOG’s innovations, called iSteer, the company can navigate through thousands of feet of rock with a drill bit that allows for greater recovery oil and gas than methods the company previously used. Briefly explain why economists would consider EOG’s use of iSteer an example of technological change.
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