According to the US Energy Information Administration, oil production from drilling offshore in the outer continental shelf wouldn’t begin until around the year 2017. Once begun, it wouldn’t reach peak production until about 2030 when it would produce only 200,000 barrels of oil per day. This would supply a meager 1.2% of total US annual oil consumption (just 0.6% of total US energy consumption). And, the offshore oil would be sold back to the US at the international rate (if at all), which today is $106 a barrel. So, the oil produced by offshore drilling would not only be a “drop in the bucket”, it would be expensive, which translates to “no relief at the pump”.
In the year 2030, peak production from offshore drilling is estimated at 200,000 barrels of oil per day. The US consumes that much in just 17 minutes a day. So, over the course of a year, that works out to a total of just four days!