Quote:
Originally Posted by RabidRed
My take is that if the USA decided to do off shore drilling for oil, the price of oil would drop over night. If that happens the economic engine of this country would kick back in and we would be off and running.
|
What makes you think that? It takes years to develop an asset like that. What happened to the price of oil when it was announced a few months ago that several billion barrels of oil exist in the Bakken find in North Dakota, which is already being tapped?
What about when Devon and Chevron just discovered a field in the Gulf of Mexico holding 3-15 billion barrels, the largest American find in a generation? As an aside, this is being drilled, so we must be doing some offshore drilling in U.S. waters.
Maybe part of a long term solution, I don't know enough of the facts to form an opinion right now, but I highly doubt it's THE solution to our woes. I smell politics.