Is it Worth Drilling For More Domestic Oil?

Outside the Beltway by Alex Knapp | Jun. 11, 2008 (Opinion)

even if we were to open up all of our offshore and onland sites for oil exploration today, it would be at least a decade, if not longer, before that oil started pumping. Meanwhile, over that decade, subsidized consumption in India and China would continue to rise, OPEC fields would continue to be maxed out, refineries would likely still be running at full capacity, and as a consequence, gas prices would still continue to increase at a decent clip. And the ... Full Story »

Posted by Kaizar Campwala

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by Mike LaBonte - Oct. 1, 2008

This blog post needs numbers; people would be surprised to know how much domestic drilling has already picked up. There is really no evidence in general, yet the claims made are commonly made by experts. The interesting part is the future demand destruction analysis. If it didn't have a link to the Gingrich petition I would say it had no sources.

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