Comment & Debate
Lisa Wangsness. “New offshore drilling not a quick fix, analysts say”. Boston.com. 20 June 2008 – “increased American production from offshore drilling would not necessarily mean lower prices for American consumers because oil is a global commodity whose price is set by global supply and demand.”
Chris Kahn. “The impact of more offshore drilling.” MSNBC. March. 31, 2010: “By opening parts of the Atlantic and the Gulf of Mexico to oil drilling, the Obama administration wants to tap a huge energy resource that could keep fuel costs in check.
But don’t expect gasoline pump prices to fall anytime soon because of the new drilling.
The offshore areas are located along relatively pristine parts of the U.S. Outer Continental Shelf, a new frontier for oil companies. It could take years before drillers will know how much oil can be pumped from these areas, and when.”