Obama’s recent hedge on offshore drilling was about politics, of course. It’s become an increasingly popular idea among the American public who just want lower gas prices, and McCain was hammering him on it.
But we wanna belabor the point here: drilling offshore really won’t make make gas cheaper, and Elizabeth Kolbert hits the nail on the head:
The Department of Energy estimates that there are eighteen billion barrels of technically recoverable oil in offshore areas of the continental United States that are now closed to drilling. This sounds like a lot, until you consider that oil is a globally traded commodity and that, at current rates of consumption, eighteen billion barrels would satisfy less than seven months of global demand. A D.O.E. report issued last year predicted that it would take two decades for drilling in restricted areas to have a noticeable effect on domestic production, and that, even then, “because oil prices are determined on the international market,” the impact on fuel costs would be “insignificant.” Just a few months ago, McCain himself noted that offshore resources “would take years to develop.” As the oilman turned wind farmer T. Boone Pickens has observed, “This is one emergency we can’t drill our way out of.” …
If the hard truth is that the federal government can’t do much to lower gas prices, the really hard truth is that it shouldn’t try to. With just five per cent of the world’s population, America accounts for twenty-five per cent of its oil use. This disproportionate consumption is one of the main reasons that the United States—until this year, when China overtook it—was the world’s largest emitter of greenhouse gases. (Every barrel of oil burned adds roughly a thousand pounds of carbon dioxide to the atmosphere.) No matter how many warnings about the consequences were issued—by NASA, by the United Nations, by Al Gore, by the Pope—Americans seemed unfazed. Even as the Arctic ice cap visibly melted away, they bought bigger and bigger cars and drove them more and more miles. …
The impact of rising fuel prices, by contrast, has been swift and appreciable. According to the latest figures from the Federal Highway Administration, during the first five months of this year Americans drove thirty billion fewer miles than they did during the same period last year. This marks the first time in a generation that vehicle miles in this country have edged downward. All told, undriven trips since the start of 2008 amount to some thirty billion pounds of unreleased CO2. Clearly, the only way to change America’s consumption habits is by making those habits more expensive.
Ironically, this is in from an essay chastising Captain Straight-Talk for his, um, complicated relationship with facts. But Obama, of course, also fancies himself the kind of candidate who speaks unpleasant truths. And like McCain, he’s not above abandoning that platform for the sake of political expediency.
