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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 01:03 PM

    Numbers, please

    According to the article, the total recoverable oil from both ANWR and offshore is 30 billion barrels. Sounds like a lot, until you do the math.

    According to the US Energy Information Administration, in 2006 the US consumed 20.7 million barrels of oil per day.

    (See http://www.eia.doe.gov/basics/quickoil.html)

    In round figures, that means that the 30 billion barrels waiting to be extracted would feed our habit for ~ 1,500 days -- just a little over 4 years at present consumption rates.

    The solution to solving our energy needs is to be found in expanding the role of renewable energy and reducing our consumption. Nothing else has a chance of penciling out.

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