Numerous oil rigs in the Gulf of Mexico and in offshore waters around the world have not caused environmental problems. It is estimated we have over 20 billion barrels of oil reserves off our coastlines, and at least another 30 billion barrels of untapped oil reserves in the Alaska National Wildlife Refuge, and oil companies say it is light, sweet crude, which is low in sulfur and easy to refine into gasoline.
The U.S. consumes approximately 7 billion barrels of oil per year and only produces about
2 billion barrels. Of the 5 billion barrels of imported oil, 3 billion barrels or 60 percent of our imported oil comes from OPEC and Persian Gulf countries; while Canada and Mexico provide most of the remaining 2 billion barrels per year. Our target should be a substantial reduction in the 3 billion barrels of oil we import from OPEC and the Persian Gulf countries.
The U.S. needs a comprehensive long-term and short-term energy program that will free us from foreign oil, reduce dependence on oil and promote cleaning the environment. In the long term, we need to increase domestic oil production; increase domestic refining capacity; build nuclear power plants and develop technology to recycle nuclear waste; and expand mass transit systems. In the short term, we should continue to reduce gasoline consumption by driving smaller cars, buying flex-fuel cars, driving less, car pooling and utilizing existing mass transit systems; conserving energy; and installing solar power and wind power systems.
A recent study by the Energy Information Administration projected the price of oil could range between $115 and $185 per barrel over the next 20 years. This translates to approximately $3.50 to $6.50 per gallon of gasoline, and assumes conditions in the world remain relatively the same.
Barack Obama and his cronies oppose offshore and Alaska oil drilling and are downplaying nuclear power. They do not understand the dire energy situation facing this country and they continue to have their heads stuck in the oil sands of the Middle East. Their policies will ensure we continue to pay high gasoline and fuel oil prices.
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