Friday, June 13, 2008

What we need to do

There is more oil in the Rocky Mountains than in all of Saudi Arabia. Former House Speaker, Newt Gingrich, says John McCain needs to challenge Obama to co-sponsor a bill in Congress to open our coasts, the Rocky Mountains, and ANWR to oil exploration and drilling. In addition they need to put our national oil reserves on the open market. Those two items alone would go a long way to lowering the price of oil and gas. I think it's a great idea.

3 comments:

MWest said...

The heck with having a co-sponsor. McCain needs to sponsor it on his own.

Brodad Unkabuddy said...

That's true. I think the cosponsor idea has to do with forcing Obama to make his true feelings known to the American people.

Vancew said...

Uh oh...getting into the political arena now Capt. Brodad!!! :-) Before we argue the point(yes, we do need more oil), we have to establish the legitimacy of your premise:

"Estimates of proven oil reserves show the Middle East has far more oil than all of North America combined, let alone the Rocky Mountains.

Saudi Arabia alone has oil reserves of 260 billion barrels (one quarter" of the world's reserves), compared to the oil reserves of Canada, the United States, and Mexico (not just the Rocky Mountains, but those entire countries) which have oil reserves of just 212 billion barrels. Iraq and Iran have over 100 billion barrels each, and Kuwait and the UAE have nearly 100 billion barrels each as well. All totalled, the Middle East has about three times as much oil reserves as North America.

Furthermore, the vast majority of North America's oil reserves are trapped in the Athabasca Oil Sands (sometimes called the Tar Sands), which are often frozen, full of contaminants, and require far more equipment and expense to turn into a usable product. The Middle Eastern reserves, by contrast, are much easier to refine using conventional refining methods.

Unfortunately, importing oil from unfriendly regimes in the Middle East has become a necessarily reality."

* 2 months ago

Source(s):
Oil & Gas Journal, January, 2007