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SavedByGraceMD -> RE: Issue: Fuel Costs (7/1/2008 3:06:13 PM)
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quote:
ORIGINAL: cow451
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ORIGINAL: SavedByGraceMD
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ORIGINAL: wing2000
...this statement:
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Between anwr and drilling off of the Florida coast which is where China and Cuba want to start drilling, we would have enough oil to stop getting it from anywhere else but right here.
an excerpt from am article written by Rebecca Hagelin, VP the Heritage Foundation(6/26/08)
"Fast forward to 2008, and it's abundantly clear that we can't leave huge deposits of energy to remain buried in our own backyard for another four years.
How huge are these deposits, you ask?
The latest estimates from the Interior Department indicate that the off-limits areas contain 19.1 billion barrels of oil and 83.9 trillion cubic feet of natural gas. According to Ben Lieberman, an energy expert at The Heritage Foundation, that's about 30 years' worth of imports from Saudi Arabia -- and enough natural gas to power America's homes for 17 years."
heres the link http://www.heritage.org/Press/Commentary/ed062608a.cfm
add to that the million or so barrels a day from ANWR
"Sen. Bob Bennett (R-UT) chastised the Clinton White House in his opening comments, referring to the administration’s veto which halted legislation to drill for oil in the Artic National Wildlife Refuge (ANWR). The Republican’s solution hinges on increasing America’s oil supply.
“If indeed we had proceeded in ANWR at the time congress passed it,” said Bennett, “we would now be receiving from ANWR a million barrels of oil a day.” (source Ben Giles 6/27/08)
and the link to this one http://www.campusreportonline.net/main/articles.php?id=2421
and one more
"But the mother lode is in shale rock. It's estimated that the Saudis have about 260 billion barrels under their sand. By comparison, with current technology, we can safely recover more than 800 billion barrels of the estimated 7 trillion barrels of oil in the shale rock from the Rocky Mountains. That means that current technology could give us more than three times the entire national resources of oil-rich Saudi Arabia.
Extracting oil from shale rock only recently has become economically feasible. It costs about $70 per barrel to extract and make the oil usable. When oil was $18 a barrel that would have been crazy. But at $138 a barrel, it's a bargain. And American companies can make money by supplying our nation's need, and lowering costs for all of us in the process." (source Ken Blackwell is member of NTU's Board of Directors)
link http://www.ntu.org/main/press.php?PressID=1028&org_name=NTU
that is just 3, all of which I got links to from townhall.com
The current problem is not supply. There's plenty. Any additional oil goes into the global market, just like precious metals. If the US increases production, the OPEC nations can offset that by reducing their own. The oil companies are multinational anyway. Most of the oil used by the US comes from Canada and Mexico, anyway.
It does make sense to look ahead at oil resources and start with building some more refineries and looking at other sources. It is not as simple as sticking a sump pump in the ground and turning on the tap. It will take up to a decade for a significant amount to get into the market anyway. And it will cost well over $70 perbarrel to extract oil from shale because the price of everything associated with drilling is being bumped up by the oil inflation.
This is true, but my original post was about getting off of foreign oil by drilling for our own. I was asked where we had enough to do just that, so hence the sources. I didn't say that we need more because demand is low, but that we need to be independent from foreign resources.
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