Questions for the WAPO

Last week, the Washington Post ran an editorial questioning key arguments of opponents of outer continental shelf drilling. The questions raised some important points. (WaPo Editorial)

Problem is, instead of closing the case on outer continental shelf drilling, the editorial page of the Washington Post just raised additional questions about the wisdom of drilling.

Again, I invite you to read the editorial for yourself.

What follows a point/counterpoint between the WAPO and questions left unanswered about off shore drilling.

WAPO Argument #1: The Washington post points out the conventional wisdom that the United States has only 3% of known world oil reserves. Evidently, this is based on old data. Continue reading

Advertisements

Domestic Drilling Challenge

Two numbers have been seared into the minds of millions of Americans: $4/per gallon of gas and $145/per barrel of crude oil. Explanations abound for how we arrived at this seemingly inconceivable position. Increased demand from China and India, as well as price speculation appear to be the front-runners.

However, what is less clear is how we as a country begin to find solutions to skyrocketing costs. One idea that appears to be gaining favor among the general public is to step up exploration for domestic sources of oil.

But, will increasing supply through domestic exploration really help the average consumer? Continue reading

No Help At All

Over the last week, we here at Clearly New Mexico have registered our disgust with the direction of the debate and the level of rhetoric over American energy policy (link)(link). Billions of dollars in public subsidies for oil and gas companies continue, while productive incentives for renewable energy languish. And, the inane idea of drilling for oil in coastal areas on the outer continental shelf is being billed as a legitimate response to the problem of $4.00 per gallon.

The Albuquerque Journal (subscription required) saw fit to ignore reality and jump on the “black gold” bandwagon in its Sunday editorial. Like Congress and the president, the Journal is no help at all for the people of New Mexico.

Because the president and his apologists in the press are beating the domestic drilling drum, I though it might be interesting to find out just what kind of a marginal effect, if any, increased American oil exploration would have. So, I did what any armchair research novice would do; I jumped on Google. Continue reading