with known sources (oil not natural gas)it will take about 5 years and all others will take between 7 and 12 years. Shale could take as many as 20 years because as of today, we don't have the technology to extract it from the rock it's in. America uses 19.6 million barrels of oil per day. That's 7.15 billion per year. According to the Minerals Management services website the total oil on the outer continental shelves of north American equate to about 6.7 billion barrels. That will give us one years worth of oil if we could suck it all up in one day. it is estimated that total, land and sea, we have a 90 billion barrels. that means that if we drilled every drop of our own oil and had a nationalized system where we didn't sell it to the world market before buying it back, we would have enough independent oil to get us about 12 years. We have to move away from oil.
http://www.mms.gov/ooc/newweb/speeches/proposed_5.htm
Proposed 5-Year Outer Continental Shelf Oil and Gas
Will drilling lower the price of gas? Politico is the most conservative publican i know of. i actually stopped getting their rss feed during the primaries they were so sickeningly biased. But here it is from their publication.
an article:
http://www.politico.com/news/stories/0608/11397.html
"Between 1999 and 2007, permits for drilling in onshore and offshore public lands “increased by more than 361 percent, yet gasoline prices have also risen dramatically,” ...“There is simply no correlation between the two.”
"Despite contrary claims by McCain, the Coast Guard estimated that oil rigs hit by Hurricanes Katrina and Rita spilled more than 7 million gallons of oil into the Gulf. Rigs routinely discharge thousands of pounds of mercury, lead, benzene and other toxic chemicals into the water."
it's not environmentally friendly.
And the department of energy is filled with experts and geologists from all the energy production types and scientists who know what they're talking about. it is where the oil industry gets their information.
Take a look here:
New drilling wouldn’t bring the first drop of oil to market for at least 10 years—and they know it.
http://www.eia.doe.gov/oiaf/servicerpt/anwr/introduction.html
even if we did get oil out tomorrow it wouldn't reduce the price of gas by more than .02 cents per gallon.
Even at peak capacity in 20 years, new oil drilling won’t lower gas prices—and they know it.
here:
http://www.eia.doe.gov/oiaf/archive/aeo07/issues.html
The Big Picture #12936.31
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