I think the oil companies gave up on ANWR, not enough oil..............
http://thehill.com/policy/energy-environment/279334-oil-companies-abandon-arctic-drilling-rights
Thanks for the information. This relates to off-shore. What about onshore? I thought there was tons of oil up there & Obama wouldn’t open it up. This was a huge issue about 10(?) years ago.
Pretty much that.
There is no law of the universe that says the US will have enough oil.
Could just stop with that sentence, but flesh it out. The US burns about 20 million barrels (a barrel is 42 gallons) per day, every day. Present rate of extraction (which some like to call oil production) is well under 10 million bpd.
Dwell on that a moment, and then go back to the sentence before it. GOM production is only a few million bpd. Shale is only a few million bpd. We burn 20. The difference we buy, with money the Fed creates by whim. Do not believe oil exporters will accept pieces of paper with ink on it much longer for civilization’s lifeblood — oil.
Russia has more surface area, more oil under it. Electric vehicles will NEVER power 350 horsepower tractors to plant food for 7 billion people. (745 watts per horsepower).
Oil is everything, and nothing is going to change that. Russia is going to win. The sooner we stop with the Putin hatred, the better.
That’s not ANWR! That was offshore leases. BIG difference. Congress can open ANWR and then offer lease sales. There is major interest in ANWR. I know.