Skip to comments.Drill Here: America's Untapped Oil And Gas Reserves
Posted on 04/20/2010 12:27:43 PM PDT by bruinbirdman
Barack Obama made a big fuss over his plan to open more U.S. acreage to exploratory oil and gas drilling. But wildcatters aren't overly excited about the prospects. Though the plan added acreage in Alaska for possible leasing, some choice sites there were yanked. Drillers still have to wait for environmental studies before a lease sale may be held. Even then, they'd need to do seismic surveys and get federal air permits before touching drill bit to earth. Expect environmentalists' lawsuits, too.
The President asserted that "drilling alone cannot come close to meeting our long-term energy needs." Really? A study released in February by the National Association of Regulatory Utility Commissioners, prepared by researchers at defense contractor SAIC and nonprofit research house GTI, finds that the U.S. has more than 200 billion barrels of oil and 2,000 trillion cubic feet of natural gas that are recoverable with today's technology. That's more than most OPEC nations. If fully developed, it would be enough to eliminate our 10-million-barrel daily diet of foreign oil for half a century.
Most of the bonanza is in federal waters, at least 50 miles offshore, along the outer continental shelf (OCS). Onshore, the biggest prize is Alaska, with some 15 billion barrels, much of it in the Arctic National Wildlife Refuge.
Opening up more federal acreage--only 17% is available now--would bring a windfall to the U.S. in bonuses, rents and royalties. Fishkind & Associates also figures that developing Florida's western coast would lead to 50,000 new jobs. Or we could just keep importing oil from Venezuela.
(Excerpt) Read more at forbes.com ...
Drill baby Drill...you betcha!
There is a biggie they are working in Texas in the Eagle Fords Shale area from the Mex border to near Houston using horizontal drilling. Once again Texas - saves the day. Supposedly 4.3 billion barrels of oil which is big but not huge.
Amen to that!!
Newt? Gag. He drilled conservatives in NY-23.
Environmentalists are just another group of useful idiots, exploited by the International Left and garden variety America haters everywhere, in an attempt to bring America to its knees.
The ongoing, historically unprecedented success of the United States emphatically pronounces the failure of socialism, daily.
With the RaceMarxist in the White House though, the Commies have their foot in the door.
Until power has been taken away from the EPA and the dems, it’s not worth lifting a finger to get more oil or any other energy from within our own country.
Let these bastards deal with the majority of 300 million folks that don’t respond well to paying over $10 a gallon...
It’s at $3.22 where I live and I don’t like it, but I will outlast most of those lib traitors any day of the week.
And who does The Obammunist put in charge of EPA, Energy, Nuclear Regulation, Labor and Commerce? Behind the scenes,unconfirmed and tasked with enforcing the political agenda is the Energy and Climate Change Commissar, Carol "Director of Socialists International" Browner.
Nice graphic. Drill, baby, drill!
Note the price of oil recovered by American companies in America wold not be subject to OPEC’s global price fixing and could be actually cheaper than imported oil. The new oil boom would spark an economic recovery that no stimulus plan ever could.
And we have lacked a will to vote for those that would allow America access to their resources.
Something happens to people’s minds when they go to DC. Maybe it’s the water...................
WE Must Trust Comrade Obama. He’s an expert on everything, yaknow. He’s our version of Kim Jong Il to some.
One interesting fact that has been realized in the past several decades is that oil is sometimes/often(?) found where there have been major meteor/boloid strkes. This is the case with the Caribbean finds resulting from the 65 million year old strike off Yucatan that killed the dinosaurs. Brazil has just made a big off shore find associated with a crater. There is also a 34 million year old strike that left a 60 mile diameter crater in the Chesapeake Bay with a north/south rim from Norfolk up to Exmore on the Delmarva Peninsula. Does anyone know if there are continental shelf deposits from this? With a republican governor, drilling might fly if there are.
There’s enough energy under Utah’s ground alone to keep everybody running for a couple hundred years.
Coincidentally, it’s under Federal land.
Oil is fungible. American oil companies have no incentive to sell oil for less than the world price. While it tries, and does have some influence, OPEC is unable to fix the price wherever it wants. Supply and demand still drives the price.
The major way OPEC influences pricing is by attempting to limit supply. Since most of the major countries cheat on their OPEC quotas, these attempts are less than fully successful.
We send several hundred billion dollars a year out of the country to buy transporation fuels. That money funds other countries’ treasuries, fuels other countries’ economies, puts other countries’ citizens to work.
That money spent here would give us real energy independence and would turn this economy around on a dime, so fast the brokers and talking heads wouldn’t know what hit them.
When our people go to work, they buy houses and cars, they shop at the malls, they send their kids to college, they buy RVs and take vacations and invest for their retirements. This in turn puts everyone else to work. Royalties on the oil, the income taxes, the corporate taxes, the sales taxes on all the equipment pours right into the government coffers.
You can put this country back to work, or you can sit with double digit unemployment, with state and local and federal governments facing bankruptcy and ruin, with your car companies sitting idle, your homebuilders standing on streetcorners, your malls half empty.
To choose dependence and bankruptcy when you’ve got oil bubbling up through the ocean floor begging to be drilled is criminal stupidity. It means your elected leaders are shills for OPEC; they sure aren’t working for you.