Originally posted by: Queasy
Originally posted by: Fern
Originally posted by: Bowfinger
The mid-term problem with expanded drilling is it will be a drop in the bucket. The amount of additional oil it will eventually add to our oil supply would help, but only to about the same extent as simple conservation measures like properly-inflated tires and well-tuned engines. That was Obama's point. Moreover, conservation measures can begin helping immediately, unlike expanded drilling.
I disagree with the "drop in a bucket" line of spin. ANWAR is estimated to have about 16BB, and there might be considerably more. The current ban on driling also means no exploration, you gotta drill to really explore.
The easter costal area is now estimated to 86,5 BB.
The government report Pelsoi & friends are quoting conservativey quotes a figure of an additional 18BB?
See bolded
Fern
And that doesn't even include Oil Shale which is estimated at over 1 trillion barrels of oil. We've blocked development for that as well.
Shale Oil is at this moment more expensive to produce than just import, it's a low-quality oil.
Give it a decade or two then it might make economic sense.
