The case for drilling—and more energy production
The media constantly repeat the claim that it would take a decadeto get the Arctic National Wildlife Refuge (ANWR) into oil productionandabout as longfor offshore continental oil to start flowing.Most accountspromote the views of extreme environmentalists to make the issue appear so hopeless that we must instead “change our way of life” rather thantap into proven oil reserves.In July, CNN repeatedly reported that offshore drilling would take “seven to 10 years” to get into production. Yet Brazil’s Petrobras expects its new finds in extraordinarily deep waters to already be producing 100,000 barrels per day injust two years. What is wrong with American oil companies that they would take so long?
In fact, the world oil shortage is political, not geological. In the U.S., the government makes it virtually impossible to drill in new areas offshore. In Nigeria, civil strife has shut down major production….