Woo Hoo! Finally breaking away from foreign oil!

[IDemo]

The US Energy Information Administration on the impact of offshore oil:

- Would not have a significant impact on domestic crude oil and natural gas production or prices before 2030. Leasing would begin no sooner than 2012, and production would not be expected to start before 2017. (note - the report is from 2007, so tack on a couple of years or so to these figures.)

And, - Because oil prices are determined on the international market, however, any impact on average wellhead prices is expected to be insignificant.

-Similarly, lower 48 natural gas production is not projected to increase substantially by 2030 as a result of increased access to the OCS (Outer Continental Shelf). Cumulatively, lower 48 natural gas production from 2012 through 2030 is projected to be 1.8 percent higher in the OCS access case than in the reference case.

- Although a significant volume of undiscovered, technically recoverable oil and natural gas resources is added in the OCS access case, conversion of those resources to production would require both time and money. In addition, the average field size in the Pacific and Atlantic regions tends to be smaller than the average in the Gulf of Mexico, implying that a significant portion of the additional resource would not be economically attractive to develop at the reference case prices.

http://www.eia.doe.gov/oiaf/aeo/otheranalysis/ongr.html

edit to add obligatory sarcasm tag -> :sarcasm:

[BrklynLiberal]

1. riiiiiiiiiiiiiiiiiiiight. Don't hold your breath

[onehandle]

2. Great! Now can we bomb Saudi Arabia?

The financiers of 9/11.

(Kidding)

(About the bombing part)




(Wouldn't have been kidding in 2001)


(Kidding)






(Maybe)

[Oregone]

3. Itll also fix the trade deficit with Canada

The US no longer has to outsource its environmental destruction

[EFerrari]

4. Maybe we can demilitarize Latin America and Haiti now.

All kinds of benefits.