How much oil would we get and when would we get it if we began drilling everywhere and drilling now?

Question

McCain seems to be dangling this idea in front of people that we would suddenly become energy independent if we started drilling all over the place. But if that were so, how come we haven't been doing it all through the Bush years, especially when he had a Republican congress for 6 years? I've heard that the benefits would be minimal, that the oil would just go into the international market anyway, and that it wouldn't get going for another 5 or 10 years. What are the facts on this?

Answer 1

I heard/read off-shore drilling would only supply 3% of the 25% of oil we import.

Answer 2

It's not that easy, first the oil companies have to fund major exploration operations just to find the oil in the first place. Then developing the reserve and building operations and transport infrastructure takes years. I don't doubt that we will drill every last drop before we stop, but it MIGHT be a good idea to develop alternatives NOW so America is not left holding the bag when it all hits the fan.

Answer 3

Gas was $2.00 or less a gallon 2 years ago before the Democrats took over congress.

Fuel prices doubling has put a huge strain on our economy and I'm VERY surprised we never went into a recession.

But the pinch is being felt by everyone.

I have a friend who is a roughneck, he said it would be about 2 1/2 years, but the price would drop immediately because price is based on future supply.  And if they go after the shale of the green vally area, that will take up to 8 years, but that the green valley has 4 times as much oil as Saudi Arabia.

he's a good friend with no reason to lie.