Atlantic Community:Global Must Read Article "Obama Must Allow Ocean Oil Drilling"

Obama Must Allow Ocean Oil Drilling

Tony Hayward, BP | February 26, 2009

All US presidents say they want to change our dependency on foreign energy, and yet US oil imports have doubled in 35 years. ++ In the future we should not be choosing between coastal oil drilling and energy conservation, but do both. ++ We need state subsidies, incentives for companies to diversify into "low-carbon" energy. ++ At the same time protected places such as the ocean shelf must be opened up for drilling. ++ No-one "thinks America can drill its way to energy security." ++ Once prices go up again, it will be too late to change.

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Thu, Feb 26th 2009, 23:47

Patrick Edwin Moran, Wake Forest University, Platinum Contributor (201)

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One issue that the U.S. is likely to push out of mind is what we would do for oil in the event of a world war or even if we were just involved in a regional conflict that required the transport of men and equipment at a time when external availability of oil might be significantly curtailed. The availability of oil from U.S. sources will not affect the price much as long as world markets are functioning and to the extent that oil might become cheaper it would tend to keep people from facing up to the inevitable crunch. The U.S. might develop these resources and deplete them only to face a major world crisis. On the other hand, the U.S. might not develop them and suffer in a major crisis because the resources could not be brought on-line in time to help. This is not the time to plunge heedlessly forward. Nor is it the time to keep these issues out of mind. How can this resource be most wisely used for the good of the nation?

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Obama Must Allow Ocean Oil Drilling