newsobserver.com projects - Report: Offshore drilling won't help soon - Comments

Re: Report: Offshore drilling won't help soon

natdug — Mon, 30 Jun 2008 18:29:28 -0400

RTB, This is weird. Is it a coincidence that you blogged about this and it was mentioned in the Perdue campaign release or did you crib from their message?

Re: Report: Offshore drilling won't help soon

ryanteaguebeckwith — Mon, 30 Jun 2008 17:37:59 -0400

Apologies. I was focused on other things last week and missed that one.

— RTB

Re: Report: Offshore drilling won't help soon

dahedgehog — Mon, 30 Jun 2008 17:12:26 -0400

No hat tip for dahedgehog? I told you about the Energy Information Report four days ago.

http://projects.newsobserver.com/under_the_dome/dole_supports_offshore_drilling_measure#comment-7744

Re: Report: Offshore drilling won't help soon

uncgop — Mon, 30 Jun 2008 14:23:51 -0400

The report by the Energy Information Administration in the U.S. Department of Energy said that opening up oil exploration off the United States coastline would not have a "significant impact" until 2030 because of the delay in starting a project.

Well if this issue really mattered then I am sure we can find some way to expediate this process. The technology is there and if our elected officials really cared about lowering gas prices then I am sure some of the red tape could be cut and this process would happen faster than expected. Thanks

Report: Offshore drilling won't help soon

ryanteaguebeckwith — Mon, 30 Jun 2008 13:30:12 -0400

A 2007 report says offshore drilling would not reduce gas prices soon.

"Leasing would begin no sooner than 2012, and production would not be expected to start before 2017," the report reads.

It also estimates that there are as much as 18 billion barrels of crude oil and 77 trillion cubic feet of natural gas off the coast of the Lower 48 states that could be tapped if the moratorium on offshore drilling were lifted.

Still, it says that even those amounts may not greatly affect the price at the pump.

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

Hat Tip: Associated Press