Will drilling off shore offset high gas prices?

Question

I say not a chance ! We need alternate forms of energy.

Answer 1

Maybe in 30 years.  But seriously, why not do the right thing and leave some of that oil for our grandkids.  I'll bet they don't end wasting it in Ford Excursions!

Answer 2

I have to agree. Even IF it did, it would take years, and still is only a temporary solution. We definitely need alternative fuel sources ( which there are plenty of). But when your current president makes tons of money off the oil industry, you have to expect him to push for more oil extraction.

Answer 3

not in my lifetime....

Answer 4

No, all oil is sold on the same market for the same price.

Answer 5

It will increase gas prices. Those drills do not run on solar power. Neigher do the boats and helicopters that tend them.

Answer 6

Eventually, we could become less dependent on foreign sources if we began using our own offshore resources, but I suspect that this year, or next year, when the price of a gallon is moving toward European prices, none of the US Oil Companies are going to sell for any less than they believe they can get.

It's not good news for now, but in the long run, with other sources coming online along the way, we could make progress before we reach the quarter century mark.

By the way, I would be watching the price of corn. The floods in the Valley are either destroying what's in the ground, keeping the farmers from selling their corn, or keeping them out of the fields.  If they can't get a crop in the ground and harvest it before the snow flies, ethanol prices are going up.

Answer 7

Perhaps it will. The biggest thing is, how many people are going to quit wasting gasoline?  The amount wasted daily is greater than the amount we import!

But, yes, we need alternate forms of energy.  Moreover, we need to quit burning oil, diesel, natural gas, etc., to generate electricity.  How idiotic can they get?

Answer 8

I think all the answers so far are missing the point. The current oil supply has pretty much reached it's limits, and speculators, seeing this, are driving the price up by creating more demand for the oil currently on the market. I believe that if the US does finally get around to rescinding the "no drill" law, the price of oil will drop. We are a net importer of oil at this point, if we can explore and use our own reserves the world's exporters would loose a major importer, plus more supply would eventually be on the market. We do need to expand our use of alternatives (i.e. coal and nuclear power among others) but we cannot grind our economy to a halt just because gas is a little more expensive. Do you think anyone is close to inventing a "hybrid" semi that can pull an 80,000 lb. trailer? No, these things take time, and the ability to produce our own oil, while lowering costs, would also buy us time for the geniuses of the world to solve our transportation and power problems.

Answer 9

Not a chance. It would take years for that oil to reach the market,and there is not guarantee that it would go to the domestic market and not to China or Europe where prices are higher.