But the Obama administration is basing this argument on a dubious premise -- that more drilling will enhance the nation's energy security. Yet drilling offshore here will not do much in that regard, or at least not nearly as much as smarter use of oil would. The U.S. uses 23 percent of total world oil consumption, but has only 3 percent the world’s oil reserves within its borders. Drilling off every coast in the U.S. won’t resolve that issue. Even the most productive portion of the new area opened to drilling in the March announcement, a 24 million acre area of the eastern gulf, is expected to yield only 3.5 billion recoverable barrels of oil. The U.S. consumes 19.5 million barrels of oil per day, which means that these wells would only produce about 180 days worth of oil – hardly worth the catastrophic situation we face in the gulf today.
I have never heard Obama suggest that it will "enhance the nation's energy security"......at least not as a stand alone item.
Scott, we have a balance of trade problem...... a serious one. One that jeopardizes our financial security. In March that trade imbalance was $40 billion. Each year we pay out nearly one half trillion dollars more than we take in when we trade with the world. That is a very serious problem. And oil is the major component to that imbalance. Do you understand?
Far more reduction in our oil imports will come through the fuel efficiency measures that the administration has already taken. The new automobile fuel economy standards for cars and light trucks that the administration outlined last month are anticipated to cut oil use 11.6 billion gallons per year by 2016. The executive order Obama issued to raise mileage standards for heavy trucks could cut oil consumption another 11 billion gallons by 2030. Those are the right steps.
We have to do all it.........continually raise Cafe Standards, conserve, develop our NG industry, encourage the development of renewable energy, et al.
Ezra Klein, the author, is not telling us something we don't already know. And you know why? He's only 26 frigging years old. He's got a degree, a good smile and some writing ability. He probably doesn't understand about the trade imbalance. He probably doesn't know it even exists. Why? Well its because he doesn't have much experience in the world. He's only 26 frigging years old. |
