annual energy outlook
After the Deepwater Drilling Disaster began 17 days ago, we’ve all tried to figure out why we should continue to expand drilling offshore.
For those who think it’s because it will help us achieve energy independence, think again. There is no way that we can drill our way to energy independence – and the government knows it.
Right now, we get about 65% of our oil from other countries, the biggest sources being Canada and Mexico. And government studies show that all the oil in US waters wouldn’t change that figure much. It would only lower it to about 60% at best. A government study expected to come out soon shows that even that much is unlikely.