Will offshore drilling actually make a difference?

Question

So there I was pondering the high price of fuel that we are all forced to pay in order to go about our daily lives. Other than folks sniveling about the price and being conned into thinking that the only answer is to drill for more oil. I really haven't seen too many alternatives to this option.

For instance. Lowering the speed limit like they did in the 70's, utilization of public transportation, not driving to the corner store when we all know our fat butts could us a good walk.

The oil companies are in it for the money, this is a given. They want to drill to keep the cash cow fed. But if we do not have the capacity to refine the oil that is already in production. If a glitch at one of the refineries happens that is just less fuel that could be put on the market.

So I guess the basic question is. Shouldn't we ensure that we have the capability to refine the oil before we drill for it?

What say ye?

Answer 1

I have been studying this problem for weeks now and if our price per gallon of gasoline is driven by world markets then why all of a sudden ours is so much higher?How do you or anyone plan to curtail the world's consumption of oil?What country gets a pass for using less?Shouldn't the price be cheaper if you use less,you buy less?We all have started using less simply because we can't afford to buy it but you keep saying the emerging countries now are using more.Well that ain't our fault.And how will you stop them?There are no easy answers here.But I certainly don't think we should pay more just because China ia using more.Their population is so high,if they all drove they would be no road big enough.I know I can be stupid but what we are being told just doesn't add up.I think the future in the short term is going to get grim.Before it looks good again.

Answer 2

No it won't.  I understand about you not being happy about oil prices. And yes its very high, and its a problem, but drilling won't help.  I have proof that it won't have an effect for a while.  A study conducted by the government showed that oil prices will not be affected by offshore drilling for a long period of time.  In fact, the year that we will have significant oil-2030- to combat worldwide prices...is too far off.  That's a long time. (2030).  I don't think anyone here wants to wait so long just for a solution that will require more oil.  I think we might have the capability to drill for more oil, but should we really just keep using oil?  Is it really a solution?  I don't believe it is.  I believe alternate energy is.  Yes it is not a big source currently.  However, I think with investment and research it could be viable within 10-15 years.  That's sooner than offshore drilling.  Then people would oppose me saying that alternate energy is a really new field and that they'd be worried about that.  Others would also say that its just about a 5-8 year difference (somewhere there) between it and the time we can get enough oil from our country.  However, I think its worth it.  First of all, non-oil answers can produce more jobs.  If we work for alternate energy making, more jobs could be offered-- a lot more than offshore drilling in my opinion.  Second of all its renewable- oil cannot be remade, once its dug out it cannot be used once again or created- its a natural one-time resource.  Third, there is already much public and private research and use of other energy- different companies like eletrical and some office buildings are using clean energy...and if we use a good effective, cooperative collabration it could work into a massive nation wide usage and research in alternate energy.  Businesses could work together and also find profitable ways (profitable yet beneficial for society) to make bunches- alternate energy.  Also they could work with the government, government researchers, and the public sector (with benefits given to all in this) to create clean energy.  Furthermore, alternate energy is better than oil in another respect- environment.  It is very clean, much less toxic than oil, and is great for the envirornment, just my thoughts.

Answer 3

we'd be smarter using our natural gas, which is plentyful.

Answer 4

your right, good point. we're not going to get away from oil for quite some time so in the mean-time I say drill everywhere even if we don't get enough oil it will scare the competition into lowering their price

Answer 5

The oil companies can access the offshore oil much easier than going to outer reaches of the globe.  The cost of extraction is a critical factor in the long term market price.   Red tape could, but will not, be waived for the construction of new refineries.  But, a large part of the population seems to not like high prices but will not give any ground on making oil E&P less expensive.  Public transportation in the new America?  I would not think there is a feasible case for the average person to opt that method of transportation.  My confusion is over the reason so many people identify themselves as Green; but, bitterly oppose high gasoline prices.  Consumption is down 7 to 8 percent since May, 2008.   Price has curtailed my consumption.  Not a Green; however, I cannot understand why any Green would be opposed to higher gasoline prices.  There really is no elaborate delivery system for an alternative fuel at this point in time. An idea is a wonderful force for the future.  But, we have to live in the moment.   YES, offshore drilling would make a material difference.  I cannot product the barrel of oil per day difference but it would be material.  Oil company workers are not government employees and will not just go out and rent a rig and not produce.    

Answer 6

Well lets see the state of TN has an abundance of oil now all of a sudden the environmentalist have put more regulations on the drilling there making it almost impossible to drill and yes we can have a couple of refineries and that would create more jobs but hey who wants them right?  Give me a break if you grow your own food does it help? Yes it does and maybe yes we should take walks but hey I want to take one when I'm on a vacation somewhere and this year I took none.  Do you want to be a third world country and feed off the U.N like Obama wants? Rich and very poor? Think about what you say and then come back!

Answer 7

if we do then we will just go through this again. we need different energy sources!!!!!!

prices are dropping right now [a little bit] but do you think we will actually get "relief"? no way! i dont think we will ever see gas lower than 3.60 again. so the obv thing to do for ourselves and the economy and environment is to find new energy. we have the resources and the money and it would make so many new jobs that people really need right now.  

Answer 8

New offshore drilling can make difference but that is contingent on the oil companies actually drilling and not just put it on their ledger as an asset. Also, any such benefit will not be realized for a few years.

So is it worth it? YES. Globally our needs will continue to rise. If we don't start investing in new oil sources, ALTERNATIVE SOURCES (not additives like enthanol), and conservation we will be in worse shape year after year.

The solution has to be a balanced approached. Unfortunately, balanced approaches don't make for good sound bites.

Answer 9

Barry told us to just put more air in our tires and the oil price problem would be over. So I ran out to the garage and I did that. How soon do you think we will see the results? What a genius he is. Go Obama.

You don't suppose he plans to tax air do you?

Answer 10

At what point do the oil companies (that are currently gouging us at the pump) become benevolent, and pump like crazy to lower the prices for US at the same time they would be reducing their own profits.

Never

it makes no sense when you think about it, luckily, republicans NEVER think, they just react

Answer 11

It's making a difference for the Saudis.

Answer 12

Yes.. about five years from now.  Building a new refinery would be a requisite of course.  We haven't built one in the US since 1974.  Build one in west Texas.  There's nothing out there anyway.

Answer 13

yes it will because that is actionable and its a quick fix.That means if the idiots get back in congress including reid and pelosi and vote to allow off shore drilling then the president can act on it immediately. Then in 6 months we can start the drilling process.

After that is pumping, then we move on to clean coal, then work on building nuclear energy plants, after that is successful move on to wind, solar, geothermal. It will help the economy tremendously because you have to have companies to do all of the above so that is why u keep taxes low so it dont hurt the entrepreneur small businesses who can hire more workers because they are not taxed as much.  duh?

The money they save in turn from not being taxed goes to fund more workers which creates more jobs. That is the cycle of how an idea works to prosperity within 5 years.   again duh?

Answer 14

You have to remember, the price of crude is set by the world commodity markets. If the drillers find oil on the continental shelf, it'll be sold exactly the same way todays oil is sold, on the open market. If China keeps up her demand for oil, the price will never come down. If we keep up our lust for oil, the price will never come down. Alternative sources of energy like hydrogen, solar, and biofuels are the future, not crude oil.