take a look at these links:
http://www.snopes.com/politics/gasoline/bakken.asp
http://www.factcheck.org/2009/03/us-offshore-oil-reserves/
I THINK WE SHOULD OPEN UP DRILLING ON ALL GOVERNMENT PROPERTIES, AND ROYALITIES PAYED DIRECTLY TO OUR DEBT., AND A HEATHCARE FOR LOW INCOME WORKERS, BUT MOSTLY FOR JOBS FOR THE PEOPLE. DRILLING HERE AND NOW WOULD STIMULATE ALOT OF THINGS..PEEPS ARE LOOSING THEIR HOMES AND LIVING IN THE STREET.. IF THE GOV TOLD THE OIL COMPANYS TO DRILL ALL THESE PROPERTIES WITH NO MONEY TO PUT UP FOR THE LEASE, THEY WOULD JUMP ON IT.. ALL THE GOV. SHOULD DO IS COLLECT 20% ROYALITIES FROM THE OIL COMPANYS..LET THE OIL COMPANYS PAY OFF OUR DEBT
Just keep a couple of things in mind.
First, when they talk about what is commercially available at current technology, just remember that a few years ago none of the Bakken was commercially available because they hadn’t developed the technology. At the beginning, they said the price would have to get to $50 before they could afford to drill it. Well, it did, but now that the technology exists, the cost of producing it is dropping quickly.
Secondly, you have to consider that oil reserves are not defined the way we may think they are. Brazil has successfuly drilled her way to energy independence, but only a few years ago they didn’t have any oil reserves. They didn’t have them, then they began to drill and find and develop.
Similarly, the reserves in the Bakken will grow as they continue to explore and develop the fields.
Another issue is the oil shale. We sit on a tremendous resource that we can’t use for mostly legal reasons. Other countries are allowed to use oil shale and do. We can’t and don’t. But we could.
FactCheck is Annenberg. (Associations with Domestic Terrorist and Neo-Marxist).
Snopes are two California Liberals.