Offshore Drilling Ban to be Lifted by Bush

[Ghoulish Delight]

Originally Posted by scaeagles

Major benefit you omitted in both that I believe is the biggest key:

Gradual removal of dependence on foreign oil and the effects of potential supply disruption in unstable areas of the world. This lowers the price of oil and shields it from some speculative pressures that have immediate and obvious effects on the economy.

It isn't about increased supply. It's about being sure that our supply - and therefore a large portion of our economic well being - is not subject to the whim of crazy men like Chavez and Ahmadinejad or terrorist action in the Persian Gulf region.

Okay, but over what time scale is "gradually"? It's going to be 20 years (I don't buy the 10 year time line) before we're even pulling it out of the ground in appreciable amounts and have a workable distribution network. Another 10 years beyond that it will maybe start to have an effect on our need for the world oil market. And then how long exactly will that last? That's going to run out eventually, in far less than the 130-150 years that world supplies are estimated to last. And we'll be right back where we started.

To me, there is one, and only one, endgame. Get off of oil. Delaying the depletion of oil, shifting the source of oil while we're depleting it are meaningless bandaids. We're dead if we don't get off oil and the window to do so is smaller than the time needed for any of this drilling to do us any good.

Equation remains the same.