InvestorsHub Logo
Replies to #9282 on Tasty Booshers
icon url

gigem77

03/18/05 11:41 AM

#9284 RE: babycakes #9282

There is a great deal of misinformation spreading on the chats about ANWR. Until we drill, there is no oil. Adjacent areas have oil, but nothing is certain until wells are drilled. Exploration is only permitted on about 8% of the ANWR refuge. If oil is found, actual development will take place on less than 1% of the refuge. Exploration could show any amount from zero to the 10-20 billion barrels that is speculated to be there. Current US imports are 10 million barrels per day of crude oil. Current US production is 5 million barrels per day. We get about 2 million barrels per day of liguids from natural gas. We get some increase from refining, a 42 gallon barrel of oil produces 44 gallons of product. We import nearly a million barrels of gasoline per day. All totaled, we use over 20 million barrels of hydrocarbons each and every day. The bottom line is that we need to develop every source and the potential for ANWR is huge. We have the technology to drill with very little impact to the environment and have demonstrated that ability for decades. I have seen it in Texas, Oklahoma, Lousiana, and the Gulf of Mexico where we have drilled thousands of wells. Some of the best fishing is under those big platforms in the Gulf. Existing production at Prudhoe has not harmed the wildlife. The Alaska pipeline has not harmed the environment. My advice to the environmental groups is "Go Look". Everything else is noise.

icon url

bugsplat

03/18/05 5:34 PM

#9315 RE: babycakes #9282

I would guess there's more oil in Alaska than for 1 day! I've heard more like 50 years of oil is up there! It's just that it isn't as easy to get too as the oil in the Middle East and it isn't as sweet.

But whatever the case we need to tap into other sources to reduce the strangle hold that Saudi Arabia has on us. If a few caribou have to relocate 30 miles than so be it!