Quote:
Originally Posted by snowman
Opening ANWR now will result in the immediate drop in oil futures. How much? Probably as much as 50% of the current price! Reason-- no one really knows how much oil there is in ANWR. No environmental impact will result in drilling ANWR or off coast.
Allowing 5 new refinearys to be built in this country, with reasonable environmental impact, would result in an immediate reduction in the price of oil.
The US has almost 500 years of known oil reserves, not counting even more in coal. There is NO alternative energy solution.
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Your 500 years of oil reserves comment got me searching for some reference but I stumbled on this:
America is sitting on top of a super massive 200 billion barrel Oil Field that could potentially make America Energy Independent and until now has largely gone unnoticed. Thanks to new technology the Bakken Formation in North Dakota could boost America’s Oil reserves by an incredible 10 times, giving western economies the trump card against OPEC’s short squeeze on oil supply and making Iranian and Venezuelan threats of disrupted supply irrelevant.
From: http://www.nextenergynews.com/news1/next-energy-news2.13s.html
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62 - VW Karmann Ghia, never moving restoration
"Oh Bother," said Pooh, as he chambered another round.
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