Our lives revolve around oil. Oil brings food to our stores, comprises the fibers in our carpets and makes the plastic in our DVDs. With demand so high it’s no wonder attention has turned to supply, with some advocating the U.S. lift the ban against drilling for oil off its coasts. Is offshore oil drilling a golden opportunity, or would it only create a tidal wave of disaster?
Please select the category that most closely reflects your concern about this content,
so that we can review it and determine whether it violates Civility 101 or isn't
appropriate for some other reason.
Abusing this feature is also a violation of Civility 101.
Explanation:
1
1
1
0
0
0
Biweekly updates on new debates and experts
Please check your email to confirm your subscription.
© 2008 Opposing Views, Inc. All Rights Reserved.
Opposing Views, Inc. is not responsible for the content posted on this website. Please view full disclaimer under Terms
No More Fake Solutions
- From NRDC
By Natural Resources Defense Council - The Earth's Best Defense
Thank You for your Comment
We review all comments before they're posted. For more on our comment policy, please see our FAQ.
Not a Fake Solution
The US also had about 3% of the world's reserves 30 years ago. By your logic, we should not have drilled Prudhoe Bay or the deepwater Gulf of Mexico. Those areas now provide about 25% of US domestic production. What do you think gas prices would be now if we took 1.5 million barrels per day off the US domestic market? Additionally, those areas took 10 years to bring online, so again by your logic they should never have been developed. You seem to be saying that if it benefits our children instead of us, then it's not worth doing.
The percentage of reserves argument is irrelevant. If the oil industry found 50 billion barrels of oil in the offshore in the next 5 years, that would amount to about 4% of the world's reserves. But it could double US oil production. That's not insignificant. Reserves are not the primary driver of price. Production is.
Your reference to the DOE forecast shows that you don't know the difference between a plan, an estimate, and a fact. The DOE could be off by miles. There could be 20 times what they forecast. Or there could be nothing at all. You don't know until you drill it. You also discuss offshore drilling only in terms of gas prices. You disregard the macroeconmic impacts. A not unreasonable 1 million barrels per day could generate, at $100 oil:
1) $3-4 billion in lease bids
2) $20 million per day in royalty revenues to state/fedearl agencies
3) $4 billion in state taxes per year
4) $13 billion in federal taxes per year
5) $40 billion per year that stays ion the US rather than going overseas
6) because of #5, a stronger dollar, lower interest rates and inproved trade deficit
7) thousand of quality jobs
And you claim that drilling is only good for Big Oil.
Additionally, you fixate on absolute price impact. What about the relative impact? What would be the price impact if we suddenly removed this hypoethitcal 1 million barrels per day from the market in 2025?
Exlpain to readers why drilling offshore would keep us dependent on oil. Alternative eenrgy now accounts for about 10% of US venture capital. The economic incentives are huge. Exxon's drilling plans in offshore California are not going to make one bit of difference to solaror wind industry R&D programs. Especially if as you say drilling will have no price impact. This is an example of using hollow slogans as policy tools. Your statement is meaningless. It's not an either/or proposition. The oil and alternative industries will continue to invest in parallel.
"83% of the respondents said they want to end our dependence on foreign oil by investing in clean, renewable energy sources." Yes and probably 50% are assuming some kid of magical fairy dust will appear. The average American is as poorly informed on energy matters as you are. But wishing doesn't make it so, I'm afraid. The same DOE you cite in defense of your views also forecasts petroleum liquids consumption in the US to rise from 40 to almost 50 quadrillino BTU's by 2030.They forecast current global production of around 85 million barrels per day rising to 112 million per day by 2030.
- hitac
September 26, 2008 5:14PM
Reply to this Recommend (0)
Side: Yes
Thank You for your Comment
We review all comments before they're posted. For more on our comment policy, please see our FAQ.
The real issue
The real issue behind the importation of oil is the amount of US currency that gets sucked out of the country. We need to do what we can to change that.
- EdR77203
September 26, 2008 11:01PM
Reply to this Recommend (0)
Side: Yes
Thank You for your Comment
We review all comments before they're posted. For more on our comment policy, please see our FAQ.
Sometimes You Have To Give In Order To Receive
You can't always just think about yourself and your generation. Shouldn't you think about what is best for your country as a whole in the future? It is pretty obvious that there is no immediate solution to our oil problem or our where-are-our-renewable-resources-because-we-need-them-now problem. I think that people really just enjoy sitting back and complaining about it rather than actually trying to make a difference. Yes, we need renewable resources. Yes, we need to become independent from oil. However, I think that people have forgotten that you have to work hard for the things that will really make a difference. Plus, in order to help yourself, sometimes you need to help others as well. So, why not put some hard work into making the next generation's lives a little bit better? They will know what you did for them, and they will be willing to do the same for the generations after them.
So, go drill!
- kirbi
January 25, 2009 1:13PM
Reply to this Recommend (0)
Side: Yes
Thank You for your Comment
We review all comments before they're posted. For more on our comment policy, please see our FAQ.
I Agree Totally
I think that you make several excellent points, the main one being that we need to work to make life better for future generations. In order for a change to be made, at some point we need to quit fussing about whose fault it is and how to fix it Right Now and do what needs to be done. We will not be able to find an easy fix to an old problem. I am an athlete and know from experience that when you develop a bad habit it takes a lot of time and a lot and practice to fix that.
- Cajun72
February 11, 2009 9:04PM
Reply to this Recommend (0)
Side: Yes
Thank You for your Comment
We review all comments before they're posted. For more on our comment policy, please see our FAQ.
I say stop drilling altogether
The only reason we use these kinds of fuels is because of history and we need a new history, a change, one that Obama, seems to forget about. Im tired of the same old thing so why not listen to some of our most educated and intelligent students and try a different resource for fuel!
We need new and inovative means to power the next generation and its not with gasoline~ this economy has for too long catered to big oil companies and they are now calling the shots so I say STOP IT! Im seriously at the point to tell ALL baby boomers out there to go on welfare to break this countrys financial back in two, we are already suffering from Obama stress fractures with all his bailouts and stimulus pressures and it wouldnt take much to bring this country to its knees and maybe then someone would listen that status quo is not working anymore. Does change always have to follow drastic measures, cant we be smart enough, to not suffer a Sept. 11 to our economy or must we suffer great losses everytime inorder to have a wake up call? I hope not.
- angelmama
August 14, 2009 6:13AM
Reply to this Recommend (0)
Side: No
Thank You for your Comment
We review all comments before they're posted. For more on our comment policy, please see our FAQ.