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 Home > Opinion > Story

Published - Thursday, June 19, 2008

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Editorial: Offshore drilling won’t bring back cheap gasoline

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With gasoline topping $4 a gallon, it was inevitable that drilling for oil in scenic or environmentally sensitive areas would become an issue in the presidential campaign. John McCain, the likely Republican nominee for president, abandoned his opposition to offshore drilling Tuesday, and President George W. Bush pushed his own offshore drilling proposal the following day.

How much would offshore drilling reduce the cost of gas? Not much. Consider that:

*McCain’s plan repeals the 27-year-old federal ban on offshore drilling but would still allow individual states to retain their own bans. While McCain proposes “incentives” for states to authorize production, those incentives would make offshore oil (and refined gasoline) more expensive and enrich states like Florida and California at the expense of Wisconsin. If offshore drilling is authorized, there is no reason why coastal states should have the power to extract royalties and export their tax burdens to the heartland.

*Offshore oil is expensive. It costs $150 million just to construct an offshore rig, and one economist estimates that oil must remain at least $60 per barrel to make offshore drilling economically viable. While $60 is considerably less than the current price of $135, it was only three years ago when oil first hit $60 a barrel and generated “pain at the pump” stories.

*Offshore oil isn’t renewable. It’s clear that America needs to invest in renewable energy sources, especially a renewable source to power automobiles. Does offshore oil buy us time to convert to renewables, or will it just trigger more decades of procrastination? Whether there’s 60 years worth of oil still in the ground or 160, oil is still a finite commodity.

It’s clear that offshore oil won’t bring back the era of cheap gasoline or create a clear path toward energy independence. The real solutions: live closer to work, drive more energy efficient cars to get there and push for investments in clean, renewable energy sources. Offshore drilling may be a viable short-term idea, but it’s not the long-term answer to the nation’s energy dilemma.
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REALITY CHECK wrote on Jun 21, 2008 11:33 AM:

" Facts are this.

We have 200+ years of Oil,gas and Oil Shale available today closer to 300 years.But the media and the whacko's never talk about these facts.

FINITE SUPPLY that is totally misleading and meant to scare people, we have heard for DECADES were running out of OIL, and that is just not true...LIES LIES LIES are the mantra from the far left

Not a long term solution, are you crazy? With the disaster of ETHANOL and I keep hearing OBAMA talk about BIO-FUELS, WHAT ARE YOU KIDDING ME.BIO-FUELS IS A JOKE and has raised the price of all food more then anytime in history, now throw the flood in and we have $8.00 corn if you eat meat you better eat up cause this time next year meat will be %30 higher at least

First off making fuel out of food was a seriously Lack of intelligence, PLUS Ethanol puts more Carbon Dioxide into the air....ETHANOL takes Fossil fuels out of the supply and because it takes more FOSSIL FUELS to produce ETHANOL then what you get out of it.

So what else do we have for the Alternative energy?

Wind mills, well that's great but no-one wants them in there backyard and the return is not that great for the investment, so this will take Billions of Dollars of subsidizes.Which is what Alternatives is really all about. People making millions of the taxpayers

Solar is another VERY,VERY EXPENSIVE source that would require subsidies, we are still years away from making Solar truly affordable to the common man or woman

now we have Hydrogen cars this sounds so GREAT but the fact is it takes very large amounts of fossil fuels to produce the Hydrogen, then we need the infrastructure to carry it, PLUS the vehicles cost a million dollars each right now. Hydrogen vehicles are still 10 or more years off if they develop true break-throughs

we have hy-brid vehicles which I believe is a Great thing, the most promising of any of the alternatives, after pricing one I found a flaw in this technology, the batteries are made with HEAVY METALS and have a life expectancy of 5 years, I know some manufactures claim up to 10 but hey most people don't keep vehicles that long, so It's a selling point but not reality. Why do the Whacko's think these are better then having nuke plants?

We hear the mantra from the far left whacko's and this paper to go ALTERNATIVE, well tell me WHAT ALTERNATIVE CAN SUPPLY OUR COUNTRY TODAY? or 5 years from now or 10 years or 15 years or 25 years from now? It doesn't exist yet

Most Alternatives such as BIO-FUELS are a disaster the price of commodities has gone through the roof because the shortages of corn, and soybeans not to mention the drought in Australia and the farm strike in Argentina last year lead to record high WHEAT.But we were planting corn because of the price

The fact that OBAMA is still touting BIO-FUELS shows he has absolutely no idea as to what is really going on, plus if he changed from that line then he would have to explain his bill in congress that ETHANOL producers made big bucks on

DRILL NOW, DRILL HERE, SAVE MONEY

The editorial says it will not save money, so for years when we had more supply then demand and the price of OIL was cheap it had nothing to do with supply, this shows the true ignorance of the editorialist and lack of understanding of supply and demand

But then again this Editorial page carries the water for Barak Obama

How to solve this problem, it's very easy, so simple a 3rd grader could gives us the solution

1) DRILL,DRILL,DRILL,DRILL
2) Open up the Oil shale and let's get busy
3) Nuke plants to supply at least %60
4) Clean Coal technology must also be used
5) work on developing efficient alternatives
6) SCRAPE THE ETHANOL PROGRAM
7) SCRAPE ANY BIO-FUEL PROGRAM
8) Tax rebates or investments into REAL ALTERNATIVE ENERGY, NOT THE SCAM OF ETHANOL
9) ANWR must be opened up and DRILL,DRILL,DRILL
10) Build refineries we should double our capacity in five years

I have never understood the environmentalist saying we can't drill here but we can buy oil from countries that are polluting the environment big time.


After 35 years of whacko policies blocking DRILLING and refining we need to get back to REALITY.

We are the one of the very few countries in the world that has the technology to safely drill ANYWHERE and we really on other countries to supply us with OIL when we have MORE RESERVES then almost anyone

REALITY CHECK, this whacko save the polar bear campaign must be abolished, ESPECIALLY WHEN IT'S A COMPLETE AND TOTAL LIE. The count of Polar Bears is actually on the increase since 1959, but the media FAILS to include that with there reports.kinda proves how left wing the media really is

LIES UPON LIES from the whacko's now people are finally saying enough with the LIES and just drill the oil "

Papa Bear wrote on Jun 20, 2008 9:29 AM:

" I don't exactly know where your intentions are, but I have to counter you on a few things. First, there is substantial reserves in the West Coast, Gulf of Mexico, and the NE corner of ANWAR and just offshore. The amount of oil, natural gas, and shell oil in Wyoming would completely isolate us from foreign oil for 150 years. We would not have to crawl on our hands and knees giving Venezuela and Iran Billions as they laugh all the way to the bank.
Second, the investment made in domestic exploration and production would do three things. One, create immense amounts of jobs.
Two, Keep American money in America. Three, more investment in alternatives.

So, the question is;Is it a good idea for America to begin drilling offshore? Yes!

Should this debate have already been agreed upon years ago so we wouldn't have had to suffer like this? Yes.

There's your answer!!! "

Scott from Fla wrote on Jun 19, 2008 10:10 PM:

" Sorry, but you're missing the real point here. We could have been drilling in the frozen tundras of Alaska and the Gulf of Mexico years ago, and not been in this predicament today, had former Pres. Clinton and his Congress cronies not dubbed them off limits back in the mid-90s. Yeah, gas (and a barrel of Mid-Eastern sweet crude) was much cheaper then, but I would venture to say Clinton's long-range vision was quite short-sifhted. Now we're paying for his, and Congress', ineptness. I don't think drilling is the be-all, end-all answer, but the fact is we are at least 7-10 years away from any alternatives, and until then, OIL is the only answer. Had we been drilling 12 years ago, we would not be siffering as much as we are now. DRILL HERE, DRILL NOW ... but let's do the RIGHT THING and plan for the future as well. We need a bridge to get us there, and, for better or worse, oil is the answer. And, be realistic: no matter what kind of cars or other transportation we use, we will always need oil in some capacity to survive. We will never be totally independent from it, no matter what the fringe left says. There will always be a market for oil, I just want our country to be free from depending on foreign markets to provide it. Nearly every other country in the world is drilling for oil and, because our inept Congress resides in the backpacks of the fringe left, we will once again be left behind.

Beam me up, Scotty, there is no intelligent left remaining down here ... "

timbo wrote on Jun 19, 2008 9:04 PM:

" YOU're right, drilling is not long-term solution. There are no solutions, only intelligent choices. It makes no sense to leave known oil where it is. Offshore and ANWR oil will help buy time to develop alternative fuel technologies. Building an alternative-fuel army brigade would also help advance technology toward where we need to be. We must be the first country with a "green" military, then we are in the driver's seat again. "


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