Please explain this current "drill baby drill" mantra. If we use 25% of the world's oil, and we only have 3% "reserves" available, won't drilling exacerbate our problem? Please be polite when you answer. I really don't understand this! Thank you. :)
by 
RosieGHM Jetpacker
ANSWERS: 4
-
The world's oil and the world's oil consumption are two different numbers.
-
More supply means a lower price speculators have driven up prices in the words of Bill Clinton "It's Economics Stupid".
-
1. There is a finite amount of oil. 2. Drilling for oil without conserving energy/looking for an alternative renewable energy source is the equivalent of being unemployed and having no income and living off ones savings without cutting back or looking for another job.
-
To me it means Americans want to supply our own oil. No, we can't supply all the oil we need, but that 3% would help us lower the amount of oil we are importing and should lower the price as well. I'm not as gunhoe (sp?) as others who would kill everything in their way to get to the oil. But I do think we should be harvesting the oil we have here in the US.
RELATED QUESTIONS
Copyright 2023, Wired Ivy, LLC