07-29-2008, 11:48 AM
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#675
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Poet in Residence
Join Date: Oct 2000
Location: Charleston, SC
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And to hopefully make the point a bit clearer:
Link: NPR: Candidates Clash On Impact Of Offshore Drilling
Excerpted Text:
Quote:
Candidates Clash On Impact Of Offshore Drilling
By Christopher Joyce
"No one says that drilling offshore would change gas prices today. The Department of Energy says there may be 18 billion barrels of oil in coastal waters, but they also say that drilling for it would not have a significant impact on production or prices until 2030.
"Even people in the oil industry say drilling won't ease the oil pinch. Matthew Simmons is head of Simmons and Company, among the largest banks investing in energy. "We basically wasted away 20 years," he said. "Now, basically, it's a terrific idea, but we ran out the clock. It's really misleading to hold that out as a panacea. It won't work. It might work for our grandchildren."
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Last edited by NoMyths : 07-29-2008 at 11:49 AM.
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