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Politics : Politics of Energy
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To: Road Walker who wrote (294)6/12/2008 3:27:45 PM
From: miraje  Read Replies (1) of 86355
 
Total US proven oil reserves are something close to 20 billion barrels.

North America is awash in hydrocarbon resources. Not just the oil and gas reserves that are currently off limits, but add in oil sands, shale and coal to the mix and we have enough to easily last through the multiple decades it will take to transition to other alternative energy sources.

Even if all the proven reserves could be produced all immediately at the same time, it wouldn't be a solution to the problem (and of course they can't).

That's not the point. Any small incremental increase in supply can have a big effect on price. A large part of todays high prices reflects the fact that the historical cushion of excess supply capacity is gone. There is no margin of safety for any supply disruption. We're tiptoeing on the edge...

We can open ANWAR, we can allow drilling to with 50 miles, but that doesn't mean the oil companies are going to invest in drilling for hard to get oil.

Hard telling, not knowing. Open the areas that are now off limits and see what happens.

Bottom line is that the US cannot drill it's way out of this mess.

That's the same old spin and mantra right out of the Sierra Club's handbook. Silliness. Getting serious about drilling and developing more of our own resources will certainly help to brings prices to a more reasonable level, as well as taking the edge off of sky rocketing food prices and inflation in general..
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