As republicans keep boasting U.S. drilling (Anwar), what do you think this would accomplish?

Since this seems to be the latest hot-button tactic republicans are using to get votes, I wonder what everyone thinks this will get them? Since I know many of you believe it will solve, or even help in some/anyway at the gas pumps please read the following provided by politifact.com and then tell me honestly what you, McCain, and Palin think is going to be accomplished by drilling on U.S. soil? (also, I’m not saying I’m against drilling, I just dont see how it accomplishes anything substantial even short-term):

from politifact.com:

For starters, the lead time for oil exploration takes years. Even if offshore drilling areas opened up tomorrow, experts say it would take at least 10 years to realize any significant production. And even then, they say, the U.S. contribution to the overall global oil market would not be enough to make a significant dent in the price of gas.

“Drilling offshore to lower oil prices is like walking an extra 20 feet per day to lose weight,” said David Sandalow, a senior fellow at the Brookings Institution, and author of Freedom from Oil. “It’s just not going to make much difference.”

It takes years to bring new oil wells online, said Mike Rodgers, a leading oil expert with PFC Energy in Washington. Companies need to drill exploratory wells, then discovery wells around the exploratory wells that show promise. Shipyards that build platforms, a two to three year endeavor, are already booked solid.

“It’s foolish to sell it as a short-term solution to high gas prices,” Rodgers said. “Opening off-shore drilling would have no impact whatsoever on gas prices today.”

That being said, Rodgers is a proponent of offshore drilling.

Most forecasters believe we are in for more dramatic prices hikes as international demand grows, particularly in rapidly developing countries such as India and China. As demand rises, Rodgers said, it would be good for the U.S. to have more of its own supply.

If there is a larger domestic supply of oil in the future, he said, “you would hope” it might soften prices some.

But even long term projections on the impact of offshore drilling don’t promise much relief at the pump.

An analysis performed by the Energy Information Administration (EIA), the independent statistical and analytical agency within the U.S. Department of Energy, found in a report published in 2007 that opening up the outer continental shelf in the Pacific, Atlantic and eastern Gulf regions would result in production no sooner than 2017, and would not have a significant impact on domestic crude oil production before 2030.

“Because oil prices are determined on the international market, however, any impact on average wellhead prices is expected to be insignificant,” the report concludes.

The EIA also researched the impact of crude oil production in the Arctic National Wildlife Refuge. To put it in scale, ANWR is believed to have a potential for 10.4 billion barrels of crude oil, a little more than half of the projected potential for the offshore areas McCain has proposed opening.

ANWR would add only 1 to 2 percent to the overall world oil supply, said Philip Budzig, who authored the report for the EIA. The report concluded drilling there would subtract anywhere from 41 cents to .44 per barrel of crude oil around 2025. That translates to a savings of just a couple pennies per gallon at the pump. Again, in 2025.

Budzig noted that the report was prepared when oil was going for about a barrel. It’s now double that. So, in theory, savings might be double what he projected last year.

The case for offshore drilling becomes more compelling when you look long term, Budzig said.

Increasing domestic oil production will lower the U.S. trade deficit, he said, putting less stress on the dollar.

“It’s sort of like investing in your kid’s education,” Budzig said.

Former Florida Sen. Bob Graham told the St. Petersburg Times he was horrified by McCain’s plan.

“I doubt there’s an economist alive that would make the case that there’s a near or longer term relationship between the moratorium and the price of gasoline,” Graham said.

Several economists who spoke to PolitiFact backed that up.

“Obviously, if you do offshore drilling now it’s not going to give any short term help on the supply of oil,” said Paul A. Samuelson, a professor of economics at MIT and winner of the 1970 Nobel Prize in Economics. “That’s far away.”

“Getting oil from the tundra and arctic isn’t going to solve the problem,” Samuelson said, adding that the potential for environmental damage needs to be factored in as well.

Dr. A.F. Alhaji, an associate professor of economics at Ohio Northern University and an international expert on oil markets, said he supports offshore drilling as a long-term way to lower dependence on foreign oil and thereby improve national security.

However, he said, “I have a problem linking the drilling to current gas prices for political reasons. The realit
Gooch, I drive a hybrid honda civic. I do think locally, I also think globally.

13 Responses to “As republicans keep boasting U.S. drilling (Anwar), what do you think this would accomplish?”

  1. Lee Says:

    You’re right it won’t help in the short or long term. Conservation, if Americans were willing to change their habits would help some immediately, but we’re too stuck on keeping our big SUV’s and sports cars. But of course some politicians will say almost anything to get votes, that’s why the Republicans are jumping on the idea of drilling now, and cutting the federal tax on gas. It sounds good to the American public but in reality it won’t help. Funny thing is they make it seem as if we don’t drill here right now but the fact is we hit our production limit in the 70’s and it’s been going down ever since.

  2. subwm4bush Says:

    Probably some more oil/government sex scandals.

  3. Stupid Should Hurt Says:

    If President Clinton hadn’t used these exact same reasons to justify his veto of the bill allowing new drilling on the North Slope, we’d have that oil right now.

    If John Kennedy had used this same defeatist mentality, we’d have never landed on the moon.

    If Roosevelt had considered the long-term picture as too far to travel, we’d have lost WWII, millions more Jews would have been executed, and Europe would be under the Nazi boot.

    If Lincoln had such short-sightedness, we would be two separate nations and a race of people would still be enslaved.

    If George Washington had allowed all the difficulties change his mind while trying to hold his army together at Valley Forge, we’d not have our nation.

    Allowing difficulty and adversity to defeat you is not what made this nation great. Drill, baby, drill!

  4. Toni Says:

    I believe that your rant was soo long, you forgot your question.

  5. randy Says:

    WOW that is allot to read…you could have just listed a source or did you just cut and paste this anyway thanks for the 2 points!!

  6. aladdinwa Says:

    The only thing it would accomplish would be to make the oil companies richer, and not much else.
    .

  7. Gooch Says:

    If we start now we keep our options open and as long as the oil companies are footing the bill for the exploration and for the drilling great. During that time we can work to try to gain a little more independence from oil in general. What have you done to curtail YOUR oil usage? Think globally act locally.

  8. halsca Says:

    Drilling in Anwar and as well as exploring for more sources of domestic oil and energy sources is certainly better than doing nothing at all.

  9. frank m Says:

    I know you’d rather send your oil money to foreign countries who dislike us and intend to do us harm, but the north slope of Alaska is providing 20% of the nations oil. It could be a much larger percentage of we opened up anwar and got our oil from ourselves and kept that money in our own economy. You can cite all the mumbo jumbo from a bunch of left leaning "experts" but taking care of our own needs ourselves is the right thing to do.

  10. Matt Says:

    Independence from foreign oil countries. Do you want to have your car to be filled up with Arabian or American oil?

    New technology on oil rigs will prevent disasters. There is technology that is new and won’t endanger sea animals or birds.

    It’s guaranteed to work. Unlike alternatives, we already know that the oil is a highly effective way to fuel America. Ethanol was one of the contributers to the economical collapse. More farmers produced corn and stopped producing as much wheat. And besides, when you buy an ethanol car, the price for it is so high that it doesn’t even matter what the price for "clean, wonderful" ethanol because it would take years before the car actually started to pay for itself.

  11. Ingrid Says:

    They just don’t get it, do they. Drilling will first of all not have any results for years to come and will not solve any energy crisis.

    We must support, Solar, Wind, Focil and even Nuclear Power.
    Nuclear Power has been very safe and we have enough Scientists to make it even safer. I have faith in them.

    And we need to start saving. I have been turning off some lights and hope McCain is doing the same in his many Homes.

  12. baby_banchee Says:

    The Obama campaign needs to remind the public that the oil company’s have permits to drill in the United States but for some reason have decided against it.They act like they can’t drill when they can. I really don’t understand why they keep mentioning Anwar, unless they are just trying to force Congress for Anwar and then certain company’s will then have permits to most all property’s with oil. Monopolizing?

  13. boskony Says:

    It will allow greedy fatass pigs (my apologies to real pigs) to continue driving their Hummers, Suburbans, and Expeditions for a few more years, but they are fools who think more drilling will lower prices. Why should they help the consumers in any way. Scarcity brings big profits, so until there’s competition against big oil, they will use us and abuse us. And if other countries are willing to pay more for oil we find, why should they reserve it for our own country?
    We should all be looking for ways to ignore oil and give it some competition from some clean energy.