31
Jul
08

american disconnect chapter 309

um about that off shore oil. . .

According to the federal government’s own Department of Energy, drilling off America’s coasts would not have a significant impact on domestic oil production or prices before 2030. And off-shore leasing wouldn’t even begin before 2012.

Why? Because the leasing process is cumbersome. And currently, there aren’t enough rigs or workers or refineries to handle more oil.

Then there’s this. Most of the U.S. offshore oil, almost 10 billion barrels, lie off the coast of California. But at the current rate of U.S. consumption – about 20.7 million barrels a day – that would be burned up in 16 months.

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