Reality Check On Offshore Drilling

Most Americans Support Lifting The Ban, But Experts Say Gas Prices Wouldn't Change

(CBS)  With gasoline hovering around $4.00 a gallon, a new poll shows two out of three Americans now agree with President Bush - that Congress should permit drilling on the outer continental shelf, CBS News correspondent Bill Whitaker reports.

"Experts believe that currently restricted areas … could eventually produce up to 18 billion barrels of oil," Mr. Bush said in a recent speech.

Even in Santa Barbara, Calif., where a huge oil spill from an ocean rig blowout in 1969 turned most Californians against offshore drilling, some people are having second thoughts.

"Well, if it doesn't hurt the environment too bad and it lowers gas prices, I'm all for it," said driver Sean Scott.

According to the federal government's own Department of Energy, drilling off America's coasts would not have a significant impact on domestic oil production or prices before 2030. And off-shore leasing wouldn't even begin before 2012.

Why? Because the leasing process is cumbersome. And currently, there aren't enough rigs or workers or refineries to handle more oil.

Then there's this. Most of the U.S. offshore oil, almost 10 billion barrels, lie off the coast of California. But at the current rate of U.S. consumption - about 20.7 million barrels a day - that would be burned up in 16 months.

"It would have a pretty modest effect even when it did start flowing," said U.C. Berkeley energy researcher Severin Borenstein.

Borenstein says it might drop pump prices as much as 25 cents a gallon in 10 years or more, but: "I think it is very unlikely that we will ever see oil prices that get us back to $2 a gallon or even $3 a gallon."

Opponents of the drilling say what's off our shores is a drop in the bucket.

Supporters say when the bucket is running dry, any little bit helps.

[aerhed]

Drill hard, drill fast, fight your brother for the last.

[lmartink]

Ahhh, the propaganda myth continues --- we can drill our own oil and it will save us from higher gas prices. Nothing could be further from the truth.

Quite honestly, we cannot drill our way out of the mess we are in. It is not the answer. Even oil magnate T. Boone Pickens is saying it.

There is no way any American oil reserves will ever lower the cost of gasoline, Pure and simple. The primary reason for this is that American oil companies cannot produce a barrel of oil as cheaply as the Saudis can.

Whether it comes from ANWR, or the OCS areas (Outer Continental Shelf), the easily accessible oil fields in Saudi Arabia provides the cheapest oil available --- by far.

The U.S. oil companies may propagate this myth, and hope people spread it around, but that is because they are poised to make a financial killing. Unfortunatley, average Americans have become the targets of vicious predators that walk on two legs and lie through their teeth.

Don''t fall for it. We will just end up worse off than we are now.

[danalford]

Katie,

Why are we still looking into oil in 10 to 20 years it still will not solve the problem? I would think if we looked for other forms of energy in 10 to 20 years we wouldn''t need as much oil. Lets stop putting a band aid on the problem and work at solutions to solve the problem.

[danalford]

Katie,

Why are we still looking into oil in 10 to 20 years it still will not solve the problem? I would think if we looked for other forms of energy in 10 to 20 years we wouldn''t need as much oil. Lets stop putting a band aid on the problem and work at solutions to solve the problem.

[grandesign]

"a new poll shows two out of three Americans now agree with President Bush - that Congress should permit drilling on the outer continental shelf"

This is false reporting. Two-thirds of Americans agree will President Bush on anything, that would be amazing. The tenor of this article is skewed to special interests, and does not reflect the general population at all. The poll is misleading . . . so let the article provide the actual question asked, because it''s evident that Oil production is not America''s way forward.

[vietnam21]

Posted by danalford ...

what other alternative do we have ? smart pant...

[pensacola88]

I can agree and corroborate LMartinK''s analysis of the gasoline pricing relationship with the production source. Seaborne oil platforms are not as cheap and simple to operate as land based wells.

Getting oil producers to lower their prices is like asking a person to breathe less and make do with less air. They just won''t do it at will.

If the demand is lowered, than the producers will lower prices.

Lowering worldwide demand means sharing the responsibility to lower oil dependency. At this time, China is our greatest hope for doing making a difference. We have to share technologies with China that lower oil appetite. This clearly means we have to get friendly with them and trust them. Failing to do so could mean the oil prices will continue to double every six years for the next thirty years, until the Chinese economy has attained a similar standard of living for the average Chinese citizen, as the US Citizen. This will translate to $30 a gallon in the year 2028. We don''t hold the upper hand price controls, because we are not the chief consumers of oil any longer.

[cskouby]

Why is it that people always seem to say that any idea for "energy independence" is ridiculous because it (the idea by itself) doesn''t solve all of the problem? Bill Whitaker''s piece on offshore drilling is completely distorted by the idea that the oil would only last 18 months because we would use it at a rate of over 20 million barrels a day--what nonsense! If offshore wells were put into production and supplied 1 million barrels a day (which would be a significant contribution to the supply and WOULD affect prices) it would last for 30 years!

There IS NO ONE SOLUTION to the energy crisis! We need to develop ALL reasonable sources including drilling, wind, nuclear, solar, biological sources, etc., etc., if we are to become energy independent.

[nrshine1]

Drilling off shore or in Alaska will not solve our dependency on gasoline to fuel our cars. We need to stop corporate censorship and empower new energy sources. The technology is there, we send men to the moon but we have not created cars that can run on wind and solar energy.

As long as we are dependant on foreign oil we will never be a free society. We had more freedom with the horse and buggy.

Electric is viable now but we need to wait for hydrogen fuel cells to power cars. What are we going to have a society like depicted in the movie Total Recall except our dependency is water. Solar energy can be created from sand, we have plenty of it and our bodies do not require it to survive.

[vietnam21]

Experts Say Gas Prices Wouldn''t Change .

Who is Experts ??? Enviros. qaccallllll or Dems .

[ragnar30066]

So experts (Democrat politicians, New York media, etc.) say that it will take 10 years for drilling to reduce the price of gas. McCain comes out for drilling, Bush agrees, Pickens forms a movement, Gingrich gets a million signatures and voila - Gas prices are coming down 9.9 years early. So much for the "experts".

Drill Here, Drill Now, Pay less, vote the obstructionists out of office.

[vietnam21]

The entire car is made by oil, rubber hoses, car tires, etc.... so there is no other alternative here at the moment.

[nrshine1]

We need to create an alternative - that does not include the use of oil.

[shameonbush]

Perhaps the reason why gas prices went up as high as they have is because they were cornering us into accepting off shore drilling. KNOW that 3/4 of the earth''s oxygen is produced by algae in the ocean. Some things are just NOT worth it. This is one of them. Don''t let these oil companies ruin the atmosphere. There is plenty of oil, why don''t we tap into our reserves if it''s so bad?

[nrshine1]

None of the comments I heard talk about a solution to our energy crises (cost of gasoline and oil). What will it take %u2013 each of you paying $10 a gallon before you demand freedom from oil?

You all sit and discuss the problem never discussing a plausible solution. None of you would of worked towards getting to the moon you would talk about how ridiculous the concept was.

When you want to stop stating the problem and start discussing a viable solutions, that%u2019s the only thing that will change our gas prices - maybe we can talk.

[downtowner97]

What you don''t hear is that the military is spending big bucks developing biodiesel from algae. The US Navy is already the world''s largest consumer of biodiesel

[foxmulder33]

Anyone who thinks drilling offshore solves the problem is not reading the research or didn''t pass fifth grade math. We need alternative sources of engery immediately. We''re heading for a brick wall in an out-of-control SUV.

[libsluv2spit]

The entire car is made by oil, rubber hoses, car tires, etc.... so there is no other alternative here at the moment.


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Posted by vietnam21 at 07:54 PM : Jul 30, 2008
+ report abuse
******************

that was the very point i was trying to point out long time ago. we need to secure our interest in middle east because our entire economy..everything that we know..everything we enjoy is made possible by oil.

Now in term of gas prices. the only way for these oil companies to lower thier prices is to decrease DEMAND. we got so pampered that we drive our 8mpg Escalade or Excursion to the corner grocery store..we have made a status quo of society on huge gas guzzling beheamots..that has to stop.

drive a hibrid..use the bike..take the bus, carpool..walk..that would solve another unique american problem..unhealthy and obese.

[libsluv2spit]

The entire car is made by oil, rubber hoses, car tires, etc.... so there is no other alternative here at the moment.


--------------------------------------------------------------------------------

Posted by vietnam21 at 07:54 PM : Jul 30, 2008
+ report abuse
******************

that was the very point i was trying to point out long time ago. we need to secure our interest in middle east because our entire economy..everything that we know..everything we enjoy is made possible by oil.

Now in term of gas prices. the only way for these oil companies to lower thier prices is to decrease DEMAND. we got so pampered that we drive our 8mpg Escalade or Excursion to the corner grocery store..we have made a status quo of society on huge gas guzzling beheamots..that has to stop.

drive a hibrid..use the bike..take the bus, carpool..walk..that would solve another unique american problem..unhealthy and obese.

[libsluv2spit]

The entire car is made by oil, rubber hoses, car tires, etc.... so there is no other alternative here at the moment.


--------------------------------------------------------------------------------

Posted by vietnam21 at 07:54 PM : Jul 30, 2008
+ report abuse
******************

that was the very point i was trying to point out long time ago. we need to secure our interest in middle east because our entire economy..everything that we know..everything we enjoy is made possible by oil.

Now in term of gas prices. the only way for these oil companies to lower thier prices is to decrease DEMAND. we got so pampered that we drive our 8mpg Escalade or Excursion to the corner grocery store..we have made a status quo of society on huge gas guzzling beheamots..that has to stop.

drive a hibrid..use the bike..take the bus, carpool..walk..that would solve another unique american problem..unhealthy and obese.

[nrshine1]

The holiday tax did not work in Albany New York - when Albany county gave such a holiday to their residents. Gas prices did not drop they increased and Albany County was still more expensive than all other surrounding counties who did not grant the tax holiday. Gas companies just raked in the profits.

Open your eyes!

[obama8years]

Not sure about those experts, what I do know is a soon as Bush lifted the Ban, Oil prices plummeted. We Start Drilling, you will see Oil below 80.00

[iphyt4u]

Oil companies are not going to give the oil to Americans. Oil companies sell the oil. If Japan pays $20 more per barrel, that''s where the oil will go. It''s a business, as you can tell from oil company profits, their doing quite well.

[nrshine1]

The holiday tax did not work in Albany New York - when Albany county gave such a holiday to their residents. Gas prices did not drop they increased and Albany County was still more expensive than all other surrounding counties who did not grant the tax holiday. Gas companies just raked in the profits.

Open your eyes!


Posted by nrshine1 at 08:24 PM : Jul 30, 2008

Get real! a national level tax break would have shown up in hours. We are not stupid.


An answer to your statement..
It is an historical fact! Feel free to look it up.

[l8c6]

Perhaps the headline should read:

Reality Check On Offshore Drilling
Most Americans manipulated by hoe politicians pimped by global capital telling them what they want to hear instead of what is to gain political favor.

[obama8years]

Nancy Polosi and the Democrats Have doubled our gas in 2 years. And Now they dont want us to Drill for Oil. Do Something Congress, if you have a better Idea than do it. Bring our gas Prices Down.

[rudy654-2009]

Folks, don''t fall into the lie (that''s all they know how to do is lie) that somehow big oil has been the victim here of all that wonderful profit. They will try and convince you that big oil is suffering, but come on folks, there must be plenty of oil out there if they can gouge and extort the kind of profits they have been raking in.

Also keep in mind that when there are oil spills on our coasts, the oil companies mostly spend our tax dollars in court trying to prove they shouldn''t have to clean it up.

[rudy654-2009]

Posted by obama8years at 08:34 PM

NO, YOU and your nazi friends are responsible for gouging us for your profits. Bastaards that you are.

[rudy654-2009]

Does anyone truly believe that McCain is going to take a look at the mega-profits of the oil industry?

[obama8years]

Nancy Polosi is the Gate Keeper of American Oil. Bush tells them to vote, Nancy says she needs a vacation.

No Drill Nancy Poloser, thank her and her do nothing congress for our high prices. Before this witch got into office we were at 2.30 a gallon.

[l8c6]

Not sure about those experts, what I do know is a soon as Bush lifted the Ban, Oil prices plummeted. We Start Drilling, you will see Oil below 80.00

Posted by obama8years


Just like magic overnight. Yeah, and Bush is bailing out the banks and just like magic your dollar has been halved. Idiots.

[vnveteran72]

The only winner in granting MORE drilling areas to Big Oil''s already Bloated Portfolio is Big Oil.....they sit on Billions of Barrels in undrilled fields, but Neocon Nazi Cheerleaders and Apologists won''t let that fact get in the way of their Inane, Groundless Claims..........LMMFAO

[rudy654-2009]

Posted by l8c6 at 08:37 PM

Obutwannabe4eightyears is a fat slobb who has all day in front of his computer. Maybe an earthquake will get him into the street.

[obama8years]

I am convinced more than ever that Nancy Poloser and Obama want America to fail, so they can build there most perfect Utopia. If Obama gets in and with the Democrats controlling the house. Hang on to your Hat, with Soros Financing the whole thing, were heading for a Marxist Country.

[rudy654-2009]

Posted by obama8years at 08:39 PM

I am convinced more than ever that you are fat azz troll.

[rosieod4prez]

I bet that was the EXACT thinking back in 1970 -


Even if we start drilling now, it won''t make a difference until 1990!!!




DRILL NOW!!!!!!



Tell the Arabs that unless the pump more now that in 2030, we will not sell them food anymore, and they can EAT their oil.

[obama8years]

AMERICA ARE YOU READY FOR THE OBAMA-NATION w/ Nancy P-Loser at his Side. Welcome the Marxist.

11. Dictate to Americans that they should be ashamed for using 25% of the world''s energy while only having 3% of the population and that A/C thermostats in should be set at higher than 72 degrees.

12. Give up America''s sovereignty for the "good of the world" and to save the planet from "global warming" by supporting new treaties on international boundaries, not drilling in ANWR or offshore, but standing by while Castro plans to drill off the Florida coast.

13. Campaigning on a message of "change", because it sounds good.


The list can go on and on, as Castro and Obama share many principles for the formula for a failed state, but one in which the party of the "new poor" remains in power through the growth of government. As this party provides more and more entitlements for its citizens and big government prevails, the country becomes less and less productive. Eventually, America''s economy is no better off than Cuba''s. Therefore, Fidel, go ahead and send Obama that box of Cohibas, for he is a Marxist just like you.

[sparks224]

The only solution is to stop buying gasoline, now.

Drive freeway speed electric cars, like this one:

http://www.phoenixmotorcars.com/

[rudy654-2009]

Posted by RosieOD4Prez at 08:41 PM

Did you know that oil exports from the US are at an all time high? So why don''t they keep it here and keep our prices down? Hmmm? Can you provide an answer that wasn''t canned by your dittohead gawd?

[rosieod4prez]

Want $10 Gallon Gas?
Keep electing Democrats!

ANWR Exploration
House Republicans:91%Supported
House Democrats: 86% Opposed

Coal-to-Liquid
House Republicans: 97% Supported
House Democrats: 78% Opposed

Oil Shale Exploration
House Republicans: 90% Supported
House Democrats: 86% Opposed

Outer Continental Shelf (OCS) Exploration
House Republicans: 81% Supported
House Democrats: 83% Opposed

Refinery Increased Capacity
House Republicans: 97% Supported
House Democrats: 96% Opposed

Posted by Grej

[lloydbest1]

I hate to widdle on anyone''s parade here but even if we DO achieve total energy independence and the supply we control is inexhaustible, we are far from being out of the woods.
We are also rapidly running out of clean water, strategic metals, arable land, fishery stocks, timber, uncontaminated air, pristine areas, living space....you name it. It is these issues, masked by our oil need (addiction?) that will get us in the end.

Assuming we could drill on all of our offshore properties, assuming we could do so with zero incidence of environmental boo-boos, assuming we could get it all at a reasonable cost, AND assuming we were fortuante enough to find a few more reservoirs hitherto unknown; we would still be far from achieving any semblence of energy independence. And while the additional petroleum might relieve some of the price pressure Saudia Arabia puts on us (assuming we don''t turn around and sell the stuff to a higher foreign bidder) we only have about 3 years of known supply under the best of usage scenarios.

Offshore drilling won''t do it for us; even if it did we STILL have to deal with everything I mentioned above. Energy independence is wonderful and I''m all for it, but it isn''t the end of our journey back to greatness - it is only the start.

[obama8years]

OF COURSE OBAMA DOESNT WANT US TO DRILL, HE WOULD LOSE CONTROL. MARXIST HATE LOSING CONTROL.

7. Convince the public, that America is perceived as evil, thus, hated by the rest of the world.

8. Abandon America''s principle of helping the world rid itself of dictatorships, thus, put our weapons down, throw our arms up, and retreat in shame from Iraq.

9. Support dictatorships throughout the world and elevate them to be recognized by the US as worthy leaders that need to be heard without preconditions - legitimize them

10. Grow the support base by expanding the lowest income class in the country by increasing and broadening entitlements; however, add to that the importation of poverty into the United States by giving Amnesty to well over 20 million illegal aliens in the country. Furthermore, promote this policy in order to attract even more illegal immigration prior to the granting of the amnesty in order to achieve the highest number of "new, uneducated, government-dependent poor class", I call the "new poor".

[lil_willie61]

NO, YOU and your nazi friends are responsible for gouging us for your profits. Bastaards that you are.

Posted by rudy654 at 08:35 PM : Jul 30, 2008


You wouldn''t know a Nazi if Saddam bit you in the ***.

[rudy654-2009]

Posted by obama8years at 08:42 PM

Tell us why you are against the US Constitution? Why do you oppose the amendments therein? Why do you want a dictatorship?

[rudy654-2009]

Posted by lil_willie61 at 08:43 PM

Not if Saddam bit me in the azz (because he''s dead, stupid), but if you showed your face on your mobile scooter, I bet I could spot you as an ugly azz nazi troll.

[obama8years]

I am surprised this Modern Day Marxist does not want to Drill. When he becomes dictator he could take over the Oil Industry and make it Goverment Controlled. He is going to do it with Healthcare, why not Oil.

Castro and Obama share many of the same values and principles for the country''s economy:

1. Redistribute the country''s wealth - Marxism 101

2. Grow the size of the government - Create new departments dedicated to supporting Item 1

3. Blame greedy American corporations for the pains of the US and the rest of the world

4 Increase taxes on those already paying the largest percentage and total amount. The top 1% already pay 39% of all taxes.

5 Nationalize healthcare

6 Campaign on a principle based on appealing to the lower income 50% of the US to despise the rich and convince 45% of the other half that their life is miserable so that once convinced of their doom and gloom, they will support the doomsayer and will want bigger government

[mcflipflop4u]

obama8years - STOP SMOKING CRACK!! WATCHING FOX NOISE DOES NOT HELP EITHER!!

[rosieod4prez]

rudy654 - I have no problem telling future contracts that the oil has to stay here.

Can you tell me why you don''t want to drill now ?

Don''t you want oil to be plentiful at SOME POINT IN TIME for us ?


Or are you going to hope some new invention comes along to make renewable energy plentiful and cheap ?



Nah - you just want to **** and moan -then point a finger. Typical liberal.

[sistatee-2009]

Why would gas prices fall just because more oil is being pumped? Gas prices AREN''T coming down because powerful people don''t WANT the price to come down.

[obama8years]

obama8years - STOP SMOKING CRACK!! WATCHING FOX NOISE DOES NOT HELP EITHER!!
----------------------------------------
I wanted to see for myself what all the noise was about the Media being in Bed with Obama. I turned MSNBC and it was a freaking Obama love fest. All they did was bash Mccain. And you call Fox Noise. LOL