Offshore Drilling is No Help

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!

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3 Comments

Filed under Internet Finds, Politics

3 responses to “Offshore Drilling is No Help

  1. Wow. What a waste of time and energy off shore drilling would be.

  2. for those who think we get all of our oil from saudi arabia…. http://tonto.eia.doe.gov/dnav/pet/pet_move_impcus_a2_nus_ep00_im0_mbbl_m.htm check out canada

  3. Yes. Let’s stop drilling and let our economy fall flat on its face. How will you get to work? Think about that. Why don’t the Democrats understand that Barack Hussein Obama wants to give your jobs away to illegal immigrants. He also wants to drill for oil. At least McCain speaks the truth. No more lies. Country First.

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