I'm glad he changed his mind on drilling, i mean you can't just stop drilling over night and expect peoplle to have the money to buy a hydrogen or electric powered car. Especially with the economy in the shape it's in, people need relief at the pump.
You can't
start drilling overnight either. The oil industry has been saying that they can get fired up and have significant amounts of oil flowing in about a decade. Right now, they don't have the exploratory drilling ships even available.
It would be if it were a genuine change of heart on the issue, but it doesn't seem to be one.
It's not. He was advocating increased drilling while on the campaign trail.
If cap and trade passes, the additional drilling probably won't matter much. Additionally, more oil helps, but is only half the problem. It still needs to be refined in gasoline. We haven't built a new refinary in decades because of pressure from environmental groups.
I wish that I'd bookmarked all the pages that I read up for this last time.
The amount of oil is relatively insignificant. The amount of the Alaskan and Gulf oil reserves combined can add about 5% of the
current US demand to the market. That's a little over 1% of the worldwide demand. It'll take nearly a decade to get most of it going and it won't be in full production mode until around 2030 at which point some of the oil will be running out. Once that oil starts coming, it'll save us about $.03 a gallon. (I heard this on NPR. I thought it'd be closer to $.10.) The price of crude oil is only about 69% of the current gas price. The next biggest chunk is state and federal taxes (13%). Then distribution and marketing (12%) and refining (7%). Profits falls under the distribution and marketing tab.
I have to drive a lot so it'll probably save me about $100/year if I still have this car in 2018. (I'm hoping a decent electric will be out by then.) But drilling for oil isn't the panacea that it's getting played up as - at least not here in Florida.
And as an important part of energy independence? Well, I have said before that every little bit counts. The options that I was thinking of aren't quite that little, but I have to admit the principle still holds. However, those other options aren't being pushed (yet) and are a lot safer. I don't want the beaches in Florida looking anything like the ones in Texas or Louisiana or even Alabama. I know that the oil industry insists that it's natural seepage and oil does seep, but it's a bit different when it seeps at the bottom of the sea a few gallons at a time or thousands of barrels at the surface. And it's funny how there seems to be a dearth of accounts of oil balls washing up on the shore until after the oil rigs showed up.
Coburn Blasts Fox News' AgendaI don't think that I agree with him on
anything politically. But I applaud him for taking a stand against the misinformation and urging the audience to check multiple sources - like CNN
and Fox News or the NYT, WSJ
and Washington Post. (I think his personal choice was better. With the former, you just get lousy news from two sources.)