Is offshore drilling for oil an answer to our energy problems?

Question

http://www.usatoday.com/money/industries/energy/2008-07-13-offshore-drilling_N.htm

"Even the Department of Energy says oil from those areas won't arrive anytime soon.

It projected last year that with the ban in place until 2012, new drilling would produce only 7% more oil in 2030, and the impact on oil prices would be "insignificant.""

Answer 1

So under the same logic that y'all operate under: that drilling won't have an impact for years...

we shouldn't enact carbon legislation because it won't effect global CO2 for years!!??

The price decrease will be small, but that is not a reason WHY NOT? And yes, it is a political ploy by McCain & others.

this is the dumbest argument I've heard in a while.

Answer 2

You answered your own question.  It will simply put more money in oil company and politician pockets.

Answer 3

It is only one part.  We also have conserve and develop alternative sources.  We should have much higher fuel economy standards on cars (at least 50 miles per gallon mandatory within a very few years).  And we should greatly expand ralroad travel and mass transit even if it takes large government subsidies.   We must be doing massive research to come up with new sources of energy.

Answer 4

It would be a drop in the bucket to what is produced in the rest of the world.   And it would be compared to the rest of the world because oil is a global commodity.   Why trade the oil here if it could be sold for more somewhere else?

Answer 5

it was old bush that put in the ban cause the price of oil was so low and he is a pawn of OPEC. so right after he did that the price went up and now that its an election year bush wants to lift it to look good even though everyone knows it wont do any good, i mean if he wants to do some good he would give tax breaks on the energy efficient cars and devices which are just lying around in lots and warehouses not being sold and the reason they are is cause they cost a little more but pay for themselves in the long run.

Answer 6

I'm no expert but obviously it's not going to help with the climate change problem, and I doubt that it would help much economically.

Did you happen to hear Bush's announcement just now?  I was eating lunch and couldn't really hear it too well, but I gathered he is now pushing Congress to allow off-shore drilling.

Answer 7

What we have to look at is that peak oil production in the world is or will be on a decline in the next 2 years.

While at the same time there is an increased need for oil in India and China.

over the past year we have seen more and more blame pointed at president Bush for not allowing off shore drilling, and in a way this have been political step by Bush to appease those that have been claiming that his reluctance in off shore drilling is the reason for the high Gas prices, and effective put the burden of this on the Democratic Congress.

however I disagree with many of the poster that it will not affect the price of oil, just the possibility of off shore could affect prices even though is will probably be 10 years before and oil is actually produced off shore.

What will make a big difference is the trend toward alternative energy.

As it stands now a very large percent of Electricity is being produced by fossil fuel.

And while it might be years before we can be independent from fossil fuel, we can effectively reduce our dependence on it.

A very large percentage of the fossil fuel today if for basic commuting,

If we were to convert to electric transportation, powered by solar energy for the purpose of commuting, that would reduce the use of fossil fuel, and carbon emissions.

Answer 8

Not in the least.  Offshore drilling wouldn't provide any more oil for about 7 years.  Even then it would make a very small impact:

http://www.eia.doe.gov/oiaf/aeo/otherana...

And only cause gas prices to decrease by a few cents per gallon over the long-term.  Even McCain said so before he flip-flopped less than a month later.

http://answers.yahoo.com/question/index;...

It's no solution at all, just a red herring to appease the masses who don't know any better.

The real solution is to become more efficient and switch to alternative energy and fuels.