Drag budget — the series
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The two drags a wing pays
A wing pays for having a surface, and it pays for making lift with a finite span. One of those bills falls as it flies faster and the other rises, so there is a speed at which the total is least — and the condition for it turns out to be that the two are equal.
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The cheapest way to stay up
There is a speed at which an aircraft's drag is least, and a different, slower speed at which its power is least. The ratio between them is the fourth root of a third — a number that does not depend on the aircraft, the altitude, or anything else about the flight.
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The cost of going turbulent
A turbulent boundary layer costs several times the friction of a laminar one, and the multiple is not a constant — it rises with Reynolds number, because the two laws have different exponents. That is why laminar flow is worth more on a long fast surface than on a short slow one.