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Wednesday, June 18, 2008 12:00 AM

Gas prices and offshore drilling

Not much is at stake on Election Day 2008. Just the long-term health of the global economy and the future of the planet. That's what the offshore drilling debate is all about.

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  • Wednesday, June 18, 2008 03:21 PM

    Math

    I'll leave the shale thing alone supposedly it is 800 billion barrels I don't know. I don't know if its bad for the environment (not the gas the act of extracting it from shale).

    What I do know is that in the OCS (Outer Continental Shelf) there is a projected 18 billion barrels of oil. In Alaska an addtional 11 to 12 billion. For a whoping 29 to 30 billion. Now lets say there is 35 billion barrels of oil just to make sure I'm optimistic. The approximate US barrel consumption in only 1 year? 7.6 billion. If we kept every single drop of that oil we would only add 4 years and change. We'd still be utterly dependent on Russia, Venezuela, and OPEC. Plus it will take 5 years to see any of it. If oil companies are actually desperate enough to drill for 5 years to add 4. It should send a message that we're running out of oil.

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