I am the first in line for solving the current energy crunch. So, I started listening to pundits and Congressmen and such, to see what solutions they had to offer. The prevailing idea is to drill our way out of this current shortage.
To investigate this potential solution, so I read a thouroughly written, comprehensive white paper called Fool’s Gold in Alaskaby Amory B. Lovins, and L. Hunter Lovins. Their impressive list of collective credentials are listed in the article.
Turns out drilling in Alaska is probably the worst thing we can do, and the report is chock full of reasons why.
The government says, if you can trust them, that even under best-case scenarios, it would take 10 years to start production and the average net drop in price would be about 86 cents per barrel.
Ten years? What do we do in the mean time?
Energy independence, or something closer it I’m guessing, is the goal here.
However, the government’s most optimistic estimate is that peak ANWR (and off shore drilling according to other sources) would only yield a total of 19 to 150 billion barrels. In fact, ANWR would only produce about 750,000 barrels per day – less than 1 percent of total world oil output.
The supposed ‘supply effect’ is a myth also. Continue reading