The problem is that once you exclude places like ANWR and most of the offshore areas (only limited offshore drilling is allowed in American waters), then there are few if any good candidates for exploration and drilling in the US).
To give one example, if we opened ANWR you would get oil investment in ANWR, its not like the American oil companies are not drilling and relying on imports as a choice.
They are not drilling in the places that are available to drill. I would be more than happy to give them ANWR and the 50 mile limit, but I say 'use it or lose it'.
In the meantime we can start moving to a more efficient fleet.
We are no longer in 'problem mode' we are in 'crisis mode'.
China's oil imports up by double digits in first 5 months
www.chinaview.cn 2008-06-11 21:24:48 Print
BEIJING, June 11 (Xinhua) -- China's oil imports posted double-digit growth in the first five months of 2008 as global crude prices more than doubled from a year earlier, the General Administration of Customs said Wednesday.
The country imported 75.97 million tons of crude oil, up 12.7 percent from a year earlier, with average prices rising 64.1 percent to 689.9 U.S. dollars per ton.
Imports of oil products jumped 17.3 percent to 17.34 million tons. Prices soared 66.9 percent to average 709.6 U.S. dollars per ton.
Analysts said booming domestic demand, notably from the severe winter and quake reconstruction, fueled imports.
Crude oil exports totaled 950,000 tons, valued at 570 million U.S. dollars, while exports of refined oil stood at 6.48 million tons worth 4.85 billion U.S. dollars.
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