Bans on Domestic Drilling to Cost U.S. $2.36 Trillion says Study

[US Army Retired]

There is a lot more than a few trillion dollars to be gained from drilling in our own reserves. Opening all of our costal waters besides land drilling domestically would drive the price of oil way down – stimulating the economy. We would gain trillions in royalty revenue to help pay our national debt. Hundreds of thousands of jobs would be created – generating more tax revenue. Obama doesn't get it.


Drilling Bans to Cost U.S. $2.36 Trillion, Industry Study Says - Bloomberg.com

Quote:
Restrictions on oil and gas drilling will cost the U.S. economy $2.36 trillion through 2029, according to a study requested by state utility regulators and paid for in part by industry-sponsored groups.

...The report, issued today, said opening the areas would free up 43 billion barrels of oil and 286 trillion cubic feet of gas.

...Harbour said the industry didn’t influence the outcome of the study, which was performed by McLean, Virginia-based SAIC Corp.

 

[skookerasbil]

There is a lot more than a few trillion dollars to be gained from drilling in our own reserves. Opening all of our costal waters besides land drilling domestically would drive the price of oil way down – stimulating the economy. We would gain trillions in royalty revenue to help pay our national debt. Hundreds of thousands of jobs would be created – generating more tax revenue. Obama doesn't get it.


Drilling Bans to Cost U.S. $2.36 Trillion, Industry Study Says - Bloomberg.com

Quote:
Restrictions on oil and gas drilling will cost the U.S. economy $2.36 trillion through 2029, according to a study requested by state utility regulators and paid for in part by industry-sponsored groups.

...The report, issued today, said opening the areas would free up 43 billion barrels of oil and 286 trillion cubic feet of gas.

...Harbour said the industry didn’t influence the outcome of the study, which was performed by McLean, Virginia-based SAIC Corp.

indeed................

this will happen......................after the coming revolution.

 

[Mr. Peepers]

You're going to trust an "industry study"? Pretty dumb.

 

[uscitizen]

Why were Jeb And George against that offshore drilling anyway?

 

[Xenophon]

Its amazing how we are driving ourselves to the poor house.

 

[beowolfe]

Isn't this the same industry that's been sticking it to the American consumer for decades now?

 

[bodecea]

There is a lot more than a few trillion dollars to be gained from drilling in our own reserves. Opening all of our costal waters besides land drilling domestically would drive the price of oil way down – stimulating the economy. We would gain trillions in royalty revenue to help pay our national debt. Hundreds of thousands of jobs would be created – generating more tax revenue. Obama doesn't get it.


Drilling Bans to Cost U.S. $2.36 Trillion, Industry Study Says - Bloomberg.com

Quote:
Restrictions on oil and gas drilling will cost the U.S. economy $2.36 trillion through 2029, according to a study requested by state utility regulators and paid for in part by industry-sponsored groups.

...The report, issued today, said opening the areas would free up 43 billion barrels of oil and 286 trillion cubic feet of gas.

...Harbour said the industry didn’t influence the outcome of the study, which was performed by McLean, Virginia-based SAIC Corp.

I'm curious....how many other places were you paid to post this?

 

[bodecea]

Why were Jeb And George against that offshore drilling anyway?

I understand offshore drilling in Florida was nixed by Jeb....near the Rich Areas like Palm Beach.

 

[uscitizen]

Why were Jeb And George against that offshore drilling anyway?

I understand offshore drilling in Florida was nixed by Jeb....near the Rich Areas like Palm Beach.

Yep but the right still blame it on the leftie tree huggers.
How convenient.

 

[boedicca]

I love how the Left often cries up Norway as an example of a successful Democratic-Socialist-Welfare State while completely ignoring that they are the Saudi Arabia of Northern Europe. Their programs are funded by the enormous income they receive from oil wealth.

If drilling offshore is good enough for them, it should be good enough for us - and let's add more nukes too.

 

[boedicca]

Why were Jeb And George against that offshore drilling anyway?

I understand offshore drilling in Florida was nixed by Jeb....near the Rich Areas like Palm Beach.

The Rich are almost always NIMBYS - i.e., Teddy Kennedy's opposition to windmills within vision of his Hyannis Port Compound.

Offshore oil drilling can be done with far less "visual pollution" with today's technology. One platform can cover a much larger territory than the pre-ban versions. We might as well drill for it now; otherwise the Chinese will just get it when the REPO the U.S.

 

[uscitizen]

How about all those leases that oil companies have been just sitting on for decades and won't drill or give the leases to someone who will drill them?

 

[boedicca]

A great many of those leases are perfect worthless. It's not like one can just drill a hole anywhere and find oil. It's a speculative venture involving leasing a large area, and then studying to find the bit where oil is most likely to be. I really doubt you'd want to entire area to be turned into swiss cheese.

 

[uscitizen]

Exxon suit over canceled Alaska leases dismissed
Thu May 10, 2007

By Yereth Rosen

ANCHORAGE, Alaska, May 10 (Reuters) - An Alaska judge has thrown out a lawsuit filed by Exxon Mobil Corp. (XOM.N) seeking financial compensation from the state for the cancellation of the leases on a major undeveloped oil and gas field.

The Alaska Department of Natural Resources moved to revoke the leases for the giant Point Thomson field in November, saying Exxon and its partners had waited too long to develop the field which was discovered in the 1960s.

Alaska oil and gas leases normally expire after five to 10 years if a find is not developed, but Exxon and its partners had won regular extensions.

Exxon suit over canceled Alaska leases dismissed | Reuters

 

[bodecea]

How about all those leases that oil companies have been just sitting on for decades and won't drill or give the leases to someone who will drill them?

Exactly...in TX, CA and OK, you can almost predict the next time the Oil Companies will put on a big push for oil drilling and higher prices...they shut off many of their oil pumps....later on, they start them up again.