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Earth Policy Institute: Drilling for Oil is Not the Answer
Posted on September 19, 2008
By Jonathan G. DornBackground The United States consumes nearly 21 million barrels of petroleum per day (7.5 billion barrels per year), one fourth the world total. Of the crude oil consumed in the U.S., 66 percent is imported. The U.S. is on pace to spend over $500 billion on petroleum imports in 2008. U.S. oil production currently occurs onshore in the lower 48 states (2.9 million barrels per day (mbd)), offshore (1.4 mbd, primarily in the Gulf of Mexico), and in Alaska (0.7 mbd).More Drilling Cannot Make the U.S. Energy Independent The U.S. Geological Survey estimates that 10.4 billion barre...
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