Saturday, August 21, 2010

Why will it take until 2030 for offshore oil to affect prices?

It won't. If we start drilling now, gas will be below $3 by the end of this year and below $2 soon after.





BTW- Obama doesn't support offshore drilling or nuclear energy = Not change we can believe in!!Why will it take until 2030 for offshore oil to affect prices?
Because there is a lot of infrastructure that needs to be built and studies funded before drilling can begin. There can be a long lead time before enough oil is flowing to the refineries that make gasoline to make a difference in the price at the gas pump.

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