Tuesday, August 12, 2008

Debunking three 'truths' about offshore drilling

washingtonpost.com reported The Natural Resources Defense Council Action Fund has taken out full-page ads in this newspaper and others to decry offshore drilling for oil as "George W. Bush's Gasoline Price Elixir"

At least he is concerned about gas prices
that is "100% Snake Oil."
At least the snakes are domestic snakes
The editorial goes along to debunk the three false claims
  • Drilling is pointless because the United States has only 3 percent of the world's oil reserves.
    Proven reserves require you to drill and show you can deliver oil. We believe there is a lot more there, we just need to be able to drill to find it.
  • The oil companies aren't using the leases they already have.
    Maybe they don't have oil on them.
  • Drilling is environmentally dangerous.
    Then make them agree to cleanup any spills.
Betsy Newmark blogged The Post repeats the argument that drilling now won't pay off for a decade. They're ignoring basic economics about how the market would react to such a change in American policy. The Post is correct that we need a comprehensive plan that couples drilling with expanded research in alternative sources of energy as well as nuclear energy.

Don Surber blogged Environmentalists tie up the oil companies from using their leases then complain that oil companies are not using their leases. It is a game aimed at, what, all I can see is destroying capitalism.

The Post is not enamored of drilling, but concluded: “No, the United States cannot drill its way to energy independence.
But not drilling certainly is not going to do it.
But with the roaring economies of China and India gobbling up oil in the two countries’ latter-day industrial revolutions, the United States can no longer afford to turn its back on finding all the sources of fuel necessary to maintain its economy and its standard of living.” That standard of living allows people to loll around and pretend they are saving the world by trying to stop it.


Anonymous said...

Yes, we have to find fuel, but even if we start drilling now, it will take more than ten years to get anywhere. Did anyone have a clue that this would eventually happen? We were always such a "rich" country....ANON

Bud said...

Everyone that has been encouraging more domestic production for the past 30 years had such a clue, but until prices started rising so fast people just ignored it.

Many previous presidents have said they want to cut back on foreign imports, but each time foreign imports have grown.

Anonymous said...

People ignored it because we just got lazy, and use to buying imported oil. That's why foreign imports have grown. We never thought we would be affected by an energy crunch.

Roy Lofquist said...

Always the obligatory obeisance to promoting alternative energy. Does nobody remember that we already tried that? The Synfuels Corporation was established by Congress in 1980, with an authorization of up to $88 billion, to develop alternate fuels. It was mercifully shot to death in 1985 because of zero results.

New technology since then? Nothing that changes the basic equations.

I am willing to debate anybody on this subject. They just have to bring a calculator that can handle really big numbers and can convert BTU to Megajoules to Watt Hours to...

Ever notice that the people who spout off about these things probably failed 8th grade arithmetic?

Anonymous said...

Anyone can do the math. My feeling is that we just got lazy and left to buy our fuel, instead of producing it....ANON

PS Because we are a world power, we thought nothing would ever happen to us.