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JT
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Posted:
5/16/2008 10:50:11 AM |
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Friday, May 16, 2008
The Globe And Mail -- Q uestion: Is the U.S. quickly running out of oil?
Answer: Not really. The U.S. possesses enormous oil reserves. It prefers, for environmental reasons, not to market them. Peter Robertson, vice-chairman of Chevron, told U.S. columnist Cal Thomas the other day that the U.S. has plenty of oil but noted: “Eighty-five per cent of [U.S.] offshore oil is off limits.” This, despite the fact that advanced technology for offshore drilling ensures little environmental risk: “During hurricanes Katrina and Rita,” Mr. Robertson said, “more than 1,000 offshore wells were destroyed [in the Gulf of Mexico] but not one of them leaked.” The U.S. has 30 billion barrels of proved reserves and another 112 billion barrels unproved but deemed recoverable – enough to run the U.S. economy for decades. Further, it has supplementary fossil fuel resources (coal and shale) almost beyond calculation – enough to run the U.S. economy for centuries. Ironically, the U.S. no-drilling policy ensures that the U.S. will ultimately – and inadvertently – possess the largest strategic crude oil reserve in the world.
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ramshot412
Champion Author
Riverside
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Message Posted:
5/16/2008 11:32:06 AM
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"Drill. What is the hold up. Screw the polar bear."
Not me. You can screw all the Polar bears you want.
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choppercrv
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Vancouver
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Message Posted:
5/16/2008 11:02:13 AM
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GREED
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SCSDOG
Sophomore Author
Toledo
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Message Posted:
5/16/2008 11:01:39 AM
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if we act like we are going to drill then it could knock the price down at opec just to keep our business
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djdon917
Rookie Author
New Jersey
Posts:59
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Message Posted:
5/16/2008 11:00:11 AM
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and Bush Wont Released the reserves he Making Trillons on it he will Not aloud to released his Oil we ARe in Real BIG trouble
gas is Going Up 10 to 20 cents a Day before you know it By 26th of This month
Gas be so High we cant go Out anywhere
i am stuck Here till Gas goes down below $2.00 a gallon
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patchdogMI
Sophomore Author
Michigan
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Message Posted:
5/16/2008 10:59:21 AM
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Drill. What is the hold up. Screw the polar bear.
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TEXJOHN
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Dallas
Posts:337
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Message Posted:
5/16/2008 10:54:34 AM
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The devil made them do it.
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mvosevich
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St. Louis
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Message Posted:
5/16/2008 10:53:07 AM
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It's our oil and we want it NOW!
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