Thursday, October 16, 2008

To Drill or not to drill?

Ok, the oil crisis may be over. Or it may not. But what can we do about the next oil crisis?

The issue of drilling offshore and in wilderness areas has come up. But what are the advantages? Well, the oil temporarily alleviates the oil crisis, temporarily lowering fuel prices.

But long term, the oil in the new fields will run out. And there are no spare drilling ships available anyway. By the time the drilling ships strike oil, ten or more years might have elapsed. Not much use. So my solution? Leave it in the ground. Yes, leave it in the ground, and wait till the Middle East runs out of oil. By then, the oil field will be even more profitable, drilling technology will have advanced, making it cheaper and safer, and you still have oil. And making the oil crisis last longer will give greater impetus for car manufacturers to make more fuel efficient cars, and for car buyers to buy them. Which means, that long term, what little oil lies offshore and under wilderness areas, will go further once it IS drilled. And those arctic and antarctic wilderness areas will all have been destroyed by global warming anyway. So no environmental harm done.

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