Speaking in Bakersfield, CA on July 28, Senator McCain stated with regard to new offshore drilling that "within a matter of months they could be getting additional oil. In some cases, it would be a matter of a year."
Well, this is what a recent government report has to say. Quoting from the Energy Information Administration report on the impact of increased access to offshore oil and natural gas reserves:
" . . . access to the Pacific, Atlantic, and eastern Gulf regions would not have a significant impact on domestic crude oil and natural gas production or prices before 2030. Leasing would begin no sooner than 2012, and production would not be expected to start before 2017."
Yikes! That's a lot longer than a year! Wonder how much our continental shelf oil would help us out at the gas pump? Oh, wait, here it is in the report: "Because oil prices are determined on the international market, however, any impact on average wellhead prices is expected to be insignificant."
Jeez, it's all right there, if you know how to use the Google. Took me five minutes to find. Thanks to Mantilla for the idea for this blog post.
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1 comment:
anyhow, why on earth would the oil companies want to start pumping more out of the ground in the first place??
they are raking in the cash pretty well right now, no sense in upsetting the apple cart.
The whole "drill here, drill now!" crowd and others are really not that bright.
They are being played by a bunch of political con artists. The same ones that like to scare people with gays.
The only true substance they might possibly be after would be the RIGHTS" to ruin our coast or elsewhere with oil drilling, should the companies ever want to.
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