The Dawning of Sense?
June 30th, 2006 | by Todd W |Congress approves controversial offshore drilling bill - Jun. 29, 2006
The U.S. House of Representatives approved a controversial bill Thursday that opens up vast stretches of the U.S. coast to oil and gas drilling, paving the way for a reversal of a 25-year ban on energy exploration off a majority of the country’s shoreline.
Unfortunately, the bill will probably die in the Senate.
We need to do this. While I’m certainly in favor of alternatives, the reality is we need the supply now while the alternative technologies work their way into the market. Those hoping for a mass conversion to electric or whatever are simply denying the reality of economics. These things take time.
As for finally putting offshore exploration back on the table, it couldn’t come at a better time.
There are new reports out circulating that Chinese firms are planning to slant drill off the Cuban coast near the Florida Straits, tapping into U.S. oil reserves that are estimated at 4.6 billion to 9.3 billion barrels. This compares with 4 billion to 10 billion barrels believed to be beneath the Alaska National Wildlife Refuge, where drilling is held up in Congress due to the objections of environmental groups which warn of endangering caribou. Permission to drill in the refuge, which experts are certain will not present any environmental hazard, has failed by just two votes in the Senate.
2 Responses to “The Dawning of Sense?”
By Love on Jun 30, 2006 | Reply
re read your post in 20 years when new york is under water from global warming
By Todd W on Jun 30, 2006 | Reply
I’ll meet you in Times Square in twenty years and we will re-read the post together.