Vast Oil Reserves Go Unexploited in Alaska

by Dave Blount | February 25, 2011 2:10 pm

The skyrocketing price of oil will pull all other prices behind it, reducing the value of every dollar you’ve earned. Rising prices are a result of insufficient supply. In the case of oil, insufficient supply is a result of moonbattery[1]:

A new study says drilling on Alaska’s Outer Continental Shelf (OCS) could make Alaska the eighth largest oil resource province in the world — ahead of Nigeria, Libya, Russia and Norway.

The report — by the consulting firm Northern Economics and the University of Alaska-Anchorage’s Institute of Social and Economic Research — says that developing Alaska’s OCS could produce almost 10 billion barrels of oil and 15 trillion cubic feet of natural gas, create around 55,000 new jobs and produce $145 billion in new payroll nationally, generating a total of $193 billion in government revenue through the year 2057.

Meanwhile…

The Washington Post reported on Thursday that U.S. pump prices for regular gasoline jumped 4 cents a gallon overnight to $3.23, an 8-cent-per-gallon increase in the past week and 55 cents more than a year ago.

The solution is simple: Drill Here Drill Now. But the Sierra Club wouldn’t like it, so our rulers won’t let it happen. Besides, Comrade Obama wants energy prices to “skyrocket.” He told us so[2] before the country went insane and elected him anyway. Unsurprisingly, he has been putting off-shore drilling companies out of business[3].

rising gas prices

On a tip from G. Fox. Cross-posted at Moonbattery[4].

Endnotes:
  1. moonbattery: http://www.cnsnews.com/news/article/new-study-shows-offshore-drilling-alaska
  2. told us so: http://www.moonbattery.com/archives/2008/11/obama_admits_he.html
  3. out of business: http://www.moonbattery.com/archives/2011/02/seahawk-drillin.html
  4. Moonbattery: http://www.moonbattery.com/

Source URL: https://rightwingnews.com/environment/vast-oil-reserves-go-unexploited-in-alaska/