Re: Obama announces solution to the gasoline crisis...

On Aug 1, 10:25�am, PeterD <pet...@xxxxxxxxxx> wrote:

A true political statement. Again, no numbers, nor facts, just
sensation.


Not true, and not politically motivated as you claim.
I mentioned the NPR article. - Guess I'll have to spoonfeed you the
link.

Looks like it was the July 18th edition on Talk of the Nation Science
Friday.
For the record, for really OBVIOUS statements like the ones I made
previously, I generally don't even bother to provide the data.

But since you asked:

The guest was: Robert Kaufmann, Director at the Center for Energy and
Environmental Studies, Boston University. www.bu.edu/cees

He claims in the interview that:

Offshore drilling -
In areas currently leased - approx 41 billion barrels of oil are
available.
In areas currently off limits - approx 19 billion barrels of oil might
be available.
Nobody can say with certainty, until the wells are drilled.
And in any case, it is impossible to pump out all that oil at once.

Offshore impact -
If the current congressional moratorium is allowed to expire in 2012,
oil could be available from offshore drilling as soon as 2017 (5 years
later). At that time, the oil retreived from the new oil leases are
projected to increase domestic production by 1% to 4%.


ANWAR drilling -
If we could drill and pump it today, it would add approx 1 millions
barrels a day to domestic production. Again, nobody can say with
certainty how much oil is there until wells are drilled, but at least
one test well has been drilled (as opposed to off-shore in unleased
areas). The results of that test well, drilled by oil companies, has
not been disclosed according to Mr. Kaufmann.

ANWAR Inpact -
Since we have a nearby pipeline, we can probably get the bulk of that
1M bbls to Prudhoe Bay and into production relatively quickly.
However, the US consumes 20 Million, to 21 Millions barrels of oil
every day. The world consumes roughly 86 Million barrels of oil every
day.

So, if we treat 86 Million barrels of oil production each day as the
base line of an inelastic global supply, increasing that to 87 Million
barrels of oil a day, actually "IS" a drop in the bucket: 1/87th to
be exact.

That small amount is unlikely to significantly change prices at the
pump, now or in the future.

-mpm

.

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