A Picture is Worth... Why Offshore Drilling Won’t Help

The image below shows why offshore drilling won't help to lower energy or gas prices in USA. The data comes from the US Energy Information Administration.

The EIA doesn't expect any oil production from offshore drilling until around the year 2017. And that it won’t reach peak production until around 2030, and then it would only produce 200,000 barrels of oil per day (marked in yellow below). "This would supply a meager 1.2% of total US annual oil consumption (just 0.6% of total US energy consumption)".

And architecture2030.org, which the chart comes from, concludes that "the offshore oil would be sold back to the US at the international rate, which today is $106 a barrel. So, the oil produced by offshore drilling would not only be a "drop in the bucket", it would be expensive, which translates to "no relief at the pump"."

More oil consumption charts:

- A Picture is Worth… Gasoline Consumption Per Day

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Simon Leufstedt
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Guest G. Francois

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I wrote a paper on this in my college class. Senator John McCain strongly believes that off-shore drilling will reduce prices at the pump while Senator Barak Obama begs to differ. Although they both bring up very interesting plans on what can help with the gas crisis in America, Obama presents the better argument. Obama presents a plan which he thinks will help reduce America’s dependence on foreign oil. And I for one can see his plan actually working while McCain on the other hand, leans on the idea of off-shore drilling. As the charts show, the amount of oil produced from off-shore drilling is very low. One will not be able to tell that there is a difference in the gas prices. Obama stated in a speech in Jacksonville on the Florida coastline that Americans will not see a relief at the pumps with this idea of drilling off-shore. He boldly stated that it will not work. Obama focuses on a plan that will provide clean energy and make America less dependent on foreign oil. Now I have no idea whose plan will actually work. One thing that I do know is that if McCain wants more people to agree with him, he needs to work on his tone of voice and not sound so dead all the time. He may be confident about what he is saying but his presentation of his argument is awful. Obama on the other hand, has great speaking ability and may very well have more people convinced with his argument on the topic of drilling off-shore. He speaks with confidence and is more relaxed with his audience. All of this leads me to want to go with Obama on his ideas against drilling off-shore..

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