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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: tonto who wrote (38019)	8/5/2008 3:14:40 PM
From: Kenneth E. Phillipps	Read Replies (2) \| Respond to of 224755

"The Department of Energy estimates that there are eighteen billion barrels of technically recoverable oil in offshore areas of the continental United States that are now closed to drilling. This sounds like a lot, until you consider that oil is a globally traded commodity and that, at current rates of consumption, eighteen billion barrels would satisfy less than seven months of global demand. A D.O.E. report issued last year predicted that it would take two decades for drilling in restricted areas to have a noticeable effect on domestic production, and that, even then, “because oil prices are determined on the international market,” the impact on fuel costs would be “insignificant.” Just a few months ago, McCain himself noted that offshore resources “would take years to develop.” As the oilman turned wind farmer T. Boone Pickens has observed, “This is one emergency we can’t drill our way out of.” newyorker.com