Bridging The (Energy) Gulf

IBD ^ | Aug. 3, 2006 | IBD

[FairOpinion]

Energy Security: Unable to explain to its constituents why gas costs so much, the Senate has passed the first expansion of U.S. oil exploration in decades. But it's almost a drop in the ocean.

As we've noted, Brazil has achieved energy independence in part from the 1.9 million barrels of oil it gets from offshore drilling. And Cuba's Fidel Castro's last act may be to drill 50 miles from Key West, Fla.

In February, the Interior Department's Minerals Management Service estimated that the Outer Continental Shelf contains 85.8 billion barrels of recoverable crude. We imported 3.67 billion barrels of oil in 2005, so the OCS could replace nearly a quarter-century's worth of oil imports.

We can drill here or grow increasingly dependent on foreign sources like Hugo Chavez's Venezuela. It's Congress' choice.

[FairOpinion]

And we are still not drilling in ANWR either.

[DTogo]

We send $300 billion a year overseas for energy we can produce here at home. That's one-third of the current trade deficit.

Quite a lot of which goes directly into the pockets and arsenals of our enemies... And many in Congress then have the gall to complain about our foreign wars for oil...

[jwparkerjr]

I sense the possibilty that reducing our import of foreign law could bring the law of unintended consequences into play. I am convinced the only reason the Islamofascists tolerate us to the degree they do is that they realize they are using our money from selling us their oil to finance much of their war against us. If that income stream falls they will have one less reason to tolerate us and I fear they would step up their terrorists attacks on us.

[FairOpinion]

The other way around -- without our money they would either shape up and behave like human beings, or starve to death.

[Rte66]

None of it will get done at the $35-45/bbl price so many want. Open it all up and watch it sit there when prices fall and the companies can't afford to develop it.

Only now, at $75, are some of these possibilities even worth contemplating.

[Attention Surplus Disorder]

I'll second your motion.

[backhoe]

I have covered, ( Or, as Seamole calls it...-backhoe's pseudoblog--...-more- ) pseudo-blogged, this subject for years-- My tongue-in-cheek collection of energy-related links:

Sticker Shock-$3 a gallon gas? Click the picture:

And kindly note, and note well-- the first reply to this post ( when gas was $1.45 a gallon ) was snarky... so, who's laughing now?

Vest-Pocket Summary:

1- drill for gas and oil like crazy- onshore, offshore, and in Alaska
2- go nuclear for power
3- convert stationary plants to clean coal technology or Next-Gen Nuclear
4- slash taxes and regulations like crazy

Our consumer-based economy is driven by and dependent upon readily-available, reliable energy-- choke that off, and we'll all be back to using one rotary dial phone in the dining room, watching one TV in the living room, and driving one car per family-- probably a Hudson Hornet or a Nash Metropolitan...

We need to

1) end the nonsensical ban on offshore drilling off California and Florida--read and weep:
Castro Plans to Drill 45 Miles from US Shores, But We Can't

2) build a lot of next-generation nuclear power plants, not just for electricity, but for any process requiring heat, power, or steam.
And if we replaced our existing nuclear plants with this one... there would be significant benefits.

3) end Jimmy Carter's idiotic ban on recycling nuclear waste, and reprocess the stuff rather than fighting over where to bury it. Europe has done this for decades.-- what to do with spent nuclear fuel? Answer here: http://www.freerepublic.com/focus/f-news/1468321/posts?page=50#50  Hattip: Mike (former Navy Nuclear Engineer)

4) use the 300-500 years worth of coal we have on our own land, using the new clean-coal technology.
-Clean Coal Centre--

5) and finally, there's nothing wrong with conservation, we should all practice it- but you can't conserve your way out of a shortage. You have to produce more. Nor is there anything wrong with "alternative" energy sources- except they don't supply the vast ( not to mention readily-available and affordable ) amounts of power we need at a price competitive to more conventional sources.

Then again, there is this to ponder:

Energy from the Restless Sea

Energy From the Gulf Stream
http://www.energy.gatech.edu/presentations/mhoover.pdf

More:
Tidal energy farm proposed for Vineyard Sound

We do need to get serious about this before we get strangled by a bunch of petty thieves and dictators who don't like us much.

[tomzz]

I'm all for going after every possible source of domestic oil available to us. But a big part of the solution has to be getting rid of at least half the commuting and replacing a lot of the oil and rubber with electrons. The typical person living in a metro area in the US might not be organized enough to work from home, but he could damned well be working from a neighborhood work site three or four days out of the week. THAT would eliminate most of the traffic on our roads.

[JoeGar]

Unable to explain to its constituents why gas costs so much, the Senate has passed ...

If you take taxes out of the price of gasoline, today's gas prices are NOT at an all-time high. Do you think the Senate will explain that fact???

[ClaireSolt]

Tell me what business wants to increase its overhead by setting up neighborhood work sites to reduce a commuting cost now born by employee? Makes no sense to me. People will move closer to work, if possible. Unfortunately lots of center city workplaces are in areas with lousy amenities and schools.

I think the market is making big adjustments and will continue to in spite of the persistant demand of pundits that government omehow fix things. You don't see zoning boards responding,yet, do you?

[Anti-Bubba182]

"And Cuba's Fidel Castro's last act may be to drill 50 miles from Key West, Fla...."

We should not let them do that.

[wita]

I love the leftist/enviro slogan, "you can't drill your way to energy independence". I guess drilling only leads to dependence. What logic.

[2ndClassCitizen]

I respectfully disagree with your logic. Are you being sarcastic?

They do not tolerate us, they fear us. If they make the mistake of hitting us hard again, like on 911, and they do not destroy us, we will probably hurt them real bad.

They lost Afghanistan and IRAQ as a direct result of 911 becasue a president who was not a liberal pussy decided to kick butt. Also, Qadafi decided to lay low. The only reason Iran, Syria, North Korea and their terrorist henchmen are working now is because we have not bombed Iran and Syria into military impotence (because the liberal pussies have maneuvered Bush into not being able to properly take action).

[Wonder Warthog]

"Environmentalists fear oil spills, but if offshore drilling is so dangerous to the environment, how is it no major spills were recorded last year as Hurricanes Katrina and Rita roared through nearly 3,000 offshore oil and gas platforms already operating in the Gulf of Mexico? Norway and Britain have been operating platforms in the North Sea for decades without incident."

Somehow the environmentalists always ignore hard data and replace them with imaginary fears.

[MonroeDNA]

Well said.

[thackney]

BTTT

[backhoe]

Thank you.