General Discussion
In reply to the discussion: Would reducing US fuel exports stop gas prices from spiking? [View all]Spider Jerusalem
(21,786 posts)and there's still the problem of time lag between drilling and resource availability. I'm aware that the geological reports indicate recoverable oil in those regions but you're conveniently ignoring the fact that announcing tomorrow you're going to drill ANWR and the Rockies and everywhere else that promises recoverable oil will have fuck-all effect on domestic OR global supply in the short-term and in the long term may indeed only make up production declines elsewhere in the world--USGS median production estimates for ANWR are in the range of 700k barrels a day; the decline rates of established oilfields can be quite substantial...Mexico's Cantarell field has declined from 2.3 million barrels a day in 2003 to 464000 in 2010; North Sea oil production has declined by about 50% since 2000, from c. 6 million barrels a day to c. 3 million; there's no reason to expect that given known decline rates for existing fields an additional million or so barrels a day in five years' time will do anything at all but keep production rates on their current plateau. Your choosing to ignore this tells me that you know less about the subject than you're pretending to.