I wish it would help ease the pain we are all feeling right now (I just paid $4.50 for basic) but the fact remains that it won't help at all.
First: Offshore oil will take atleast 5 years to explore, discover, transport, and refine. Of course, let us not forget the US's current refinery bottleneck.
Second: The Interior Department estimates 19 billion barrels of oil exist in the restricted area. Although that is a lot of oil, the U.S. currently uses 21 million barrels A DAY! That's 7.66 billion barrels a year! So that whopping 19 billion barrels results in only a 2.5 year supply!!!
Given that oil from offshore drilling won't arrive online anytime soon and that it will only last for 2.5 years when it eventually does, I think reason will prevail and offshore drilling won't be passed :-)
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