Why doesn't the US do more domestic oil drilling? Wouldn't it help our struggling economy?

Question

We have plenty of oil right here in the US. Why not use it instead of paying to import foreign oil?

Oil is the lifeblood of our economy. Cheaper domestic oil would help to strengthen our economy. No more paying $4/gallon for gas.

I know environmental concerns are a part of it. But, drilling technology has improved. Oil can be harvested safely,with little risk of harming the environment.

Answer 1

drilling for oil requires massive investment its not as if US does not enough for that investment but assume that we get oil worth of $1000 but the cost of getting it were $1500 so it means that we are making a loss of -$5000, wouldnt it better to instead import oil worth $800?

yeah environmental constraints are one of the factors for not drilling... but apart from that US consumption of oil is so huge that the oil present in America is not enough to suffice its demand, under any corcumstances it would have to import or as already discussed the costs would be much higher than benefits itself.

Answer 2

There are three basic reasons for why we're not doing more drilling:

1) It's very expensive! It cost big bucks to find the oil, erect and operate derricks, etc

2) The general feeling of nobody wants oil drilling in their backyard. In other words, you can do it, but not near me. This is partly due to fears about a possible spill or other catastrophe

3) Where they'd like to drill now, in the Artic Wildlife Preserve, is an ecologically-sensitive region. It would be like drilling in the Great Barrier Reef, Yellowstone National Park, or the Grand Canyon

The other problem is this. We don't really have  a supply problem. There's plenty of crude to meet demand. The real problem centers on refining!

We don't have enough refineries to turn that crude into fuel--heating, desiel, and gasoline. So even if we drilled and pumped out more domestic oil, the refining problem will still exist. Fact is, we haven't built a new refinery for 30 years or so. It's very expensive to build and people don't want one in their neighborhood.

So even if we drilled in the Artic Preserve, it would not solve our basic problem of a lack of refining capacity. And that's the real issue that needs to be dealt with! But the problem here is you don't build them overnight. So even if we were willing to build them wherever necessary, it wouldn't be completed for years down the line. And that does little to ease our pain right now.

Answer 3

call your politicians and tell them this. obama and mccain won't drill in anwr.  search for-- drill here drill now pay less--- and sign the petition.

Answer 4

Because the Democrats and Liberals are too concerned about Global Warming !!!!! Did you see how much money Al Gore made selling his book ??? Go figure !!!!!!!!!!!!