JiggsCasey
VIP Member
- Jan 12, 2010
- 991
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- #41
I understand that Palin fans have reading comprehension problems, but it says it right in the Associated Press story:
"Collins Center for Public Policy, a Florida think tank, in conjunction with the state's Century Commission for a Sustainable Florida."
Here you are, pumpkin... Spin away:
http://collinscenter.site-ym.com/members/blog_view.asp?id=549166&post=92068&hhSearchTerms=negligible
Q: (14) Would the development of oil and gas resources in Florida waters (and/or areas in the Eastern Gulf of Mexico under federal moratorium) make us less dependent on foreign energy suppliers?
A: Aside from acknowledging the adage that every little bit helps, the development of oil and gas resources in both Florida’s state submerged lands and the federal waters in the Eastern Gulf of Mexico would have no discernible impact on the state’s or the country’s dependence on foreign oil.
As noted in the resource assessment discussion, the most optimistic amounts of potential oil production from Florida’s state submerged lands would have a negligible impact on the country or the state’s oil imports. Estimated oil reserves for the majority of Florida’s state waters are approximately 110 million barrels. Production derived from these reserves would boost U.S. supplies by a small fraction of 1 percent. To put that in context, the total estimated amount of oil reserves in Florida would satisfy the U.S. demand for oil (approximately 20 million barrels a day) for less than a week.
Estimated oil reserves in federal waters in the Eastern Gulf of Mexico are more substantial, about 4 billion barrels. Still, the production volumes to be derived from these reserves pale in comparison to those in the Central and Western regions of the Gulf of Mexico and would not boost U.S. production by more than 1 or 2 percent. To the extent that this amount displaced imports it could translate into less U.S. money being sent to foreign governments. Again, however, with respect to the volumes of oil and gas under consideration this wouldn’t have a discernible impact on the pattern of trade.
With respect to natural gas resources, robust development would largely displace coal as a preferred fuel source for electricity generation. Given that the country’s demand for coal is supplied domestically, the expansion of natural gas production capacity would have little if any impact on foreign fuel imports. The bulk of U.S. natural gas imports originate from Canada and serve regional markets in the North.
A: Aside from acknowledging the adage that every little bit helps, the development of oil and gas resources in both Florida’s state submerged lands and the federal waters in the Eastern Gulf of Mexico would have no discernible impact on the state’s or the country’s dependence on foreign oil.
As noted in the resource assessment discussion, the most optimistic amounts of potential oil production from Florida’s state submerged lands would have a negligible impact on the country or the state’s oil imports. Estimated oil reserves for the majority of Florida’s state waters are approximately 110 million barrels. Production derived from these reserves would boost U.S. supplies by a small fraction of 1 percent. To put that in context, the total estimated amount of oil reserves in Florida would satisfy the U.S. demand for oil (approximately 20 million barrels a day) for less than a week.
Estimated oil reserves in federal waters in the Eastern Gulf of Mexico are more substantial, about 4 billion barrels. Still, the production volumes to be derived from these reserves pale in comparison to those in the Central and Western regions of the Gulf of Mexico and would not boost U.S. production by more than 1 or 2 percent. To the extent that this amount displaced imports it could translate into less U.S. money being sent to foreign governments. Again, however, with respect to the volumes of oil and gas under consideration this wouldn’t have a discernible impact on the pattern of trade.
With respect to natural gas resources, robust development would largely displace coal as a preferred fuel source for electricity generation. Given that the country’s demand for coal is supplied domestically, the expansion of natural gas production capacity would have little if any impact on foreign fuel imports. The bulk of U.S. natural gas imports originate from Canada and serve regional markets in the North.
Mmm-kay? Thanks for playing.
