June 22, 2008
OIL, OIL, OIL
Drake Oil Well
courtesy http://www.cbsd.org/
Ever since the Chinese imperial censor Bao Xuan and his wife -- in 30 BC – built a wheelbarrow to cart home their wedding presents, the world has sought to energize wheels for profit and pleasure.
Thus, we progressed to bicycles, automobiles and airplanes.
Self-propelled conveyances were made practical by the discovery of oil in Pennsylvania by Edwin Drake -- and invention of gasoline engines by Rudolph Diesel.
Now, oil has become more precious than gold. Indeed, we call it “black gold.”
The price of a barrel of crude oil has soared over the past two years – from $50 to $130 as demand has increased primarily in the United States, China and India.
All this despite new oil wells coming on line in Venezuela, Brazil, and Africa.
SUPPLY AND DEMAND
courtesy igsb.uiowa.edu
Economies of the new, oil-rich countries are prospering in accordance with the “law of supply and demand.” The elements thereof fluctuate until balanced.
At present, the United States is struggling because our half-baked environmentalists have locked in zillions of acres of oil.
Their rationale is that pumping oil out of the ground – or ocean floor – will poison the air with carbon-dioxide and inflict “global warming.”
It is amazing how many numbskulls can find catastrophe in perambulations of the planet Earth -- and yet overlook the blessings. (Former Vice-president Al Gore take note.)
Green chlorophyll -- in plants and ocean algae -- gobble carbon-dioxide and exude oxygen for people to breathe and the animals they eat.
Yes, the earth is warming – as it has ever since the last ice age about a thousand years ago when Europeans could skate to Iceland. (Click here for “Climate Report Less Grim” - February 2007.)
STARTLING CARIBOU HERD
Better yet: click here - ANWR.org/photos - and see caribou, bears, pheasants and other wildlife flocking around an Alaska oil well.
Since the well was drilled, the caribou herd has increased from 2,000 to 3,000. Consequently, the National Wildlife Department last season permitted hunters to kill two caribou each instead of the usual one.
There is much half-baked information circulating about oil drilling in special places.
The Arctic National Wildlife Reserve is a stretch of land the size of Connecticut. The spot of ground containing gobs of oil is about the size of Dulles Airport in New York.
To comprehend the relative sizes, consider a regular postage stamp on a football field (including the end zones.)
KNOWN OIL AWAITING
In addition to Alaska’s oil fields, the “Lower 48” states sit on treasure troves of oil ruled off limits. It is like a person starving to death because the crust on his bread is not well browned.
For example, there is much talk about the Bakken Formation oil field in North Dakota and Montana. It is said to hold four billion barrels of oil. However its oil is trapped in shale, requiring steam to melt it out.
More productive are believed to be the “zillion” barrels of “sweet” oil on Florida’s west coast continental shelf extending 50 miles seaward.
Various oil companies have taken up drilling options but stand idle because of governmental fears that an oil spill might besmirch the beaches.
Everyone remembers the Great Oil Spill of Huntington Beach, California, in 1990. About 400,000 gallons of crude oil blackened 10 miles of beach and lingered for a year.
The U.S. Department of Interior estimates “conservatively” that the Florida shelf holds more than 19 billion barrels of oil.
Prince Saudi of Arabia, take note.
REPUBLICANS GET ON BOARD
Sen. John McCain – presumed Republican candidate for the presidency – last week called for an end to the federal ban on offshore oil drilling.
A sudden jump in the price of gasoline to $4 a gallon commands the attention of politicians.
Asserted McCain:
“We must embark on a national mission to eliminate our dependence on foreign oil.”
“We have untapped oil reserves of at least 21 billion barrels in the United States. However, a broad federal moratorium stands in the way of energy exploration and production. It is time for the federal government to lift these restrictions.”
Florida Gov. Charlie Crist echoed the clarion call next day. (Bid for vice-presidency?) “It has become increasingly clear that we must be pragmatic in protecting both our beaches and our economy.”
U.S. Senator Mell Martinez – Republican, Miami – says he would consider offshore drilling 50 miles away.
State Senator Burt L. Saunders – chairman of the Senate Environmental Preservation and Conservation Committee – says: “We need more energy independence.”
He avers that he changed his mind about offshore drilling after oil rigs near Louisiana survived Hurricane Katrina without spills.
OBAMA OPPOSES DRILLING
Democrats and various environmental groups rushed to pooh-pooh McCain, et al.
U.S. Senator Barack Obama – presumed Democrat candidate for the presidency – reacted to off-shore drilling as expected:
“John McCain’s plan to simply drill our way out of our energy crisis is the same misguided approach backed by President Bush that has failed our families for too long and only serves to benefit the big oil companies.”
Obama proposes to auction greenhouse-gas “emission credits” and using the money to bolster research and development projects.
CHINA AND CUBA DRILLING
While Americans fiddle-faddle, China is busy drilling the first of 12 oil wells for Cuba 50 miles off Key West, Florida.
One is reminded of Lenin’s famous statement to Stalin touting Soviet communism:
“When we need rope to hang our enemies, they will sell it to us.”
Chinese President Hu Jintao (L) and Cuban President Fidel Castro wave during their meeting at the Palace of the Revolution in Havana, November 22, 2004. Hu Jintao is in Cuba on an official two-day visit.
courtesy China Daily
By Lindsey Wilger Williams, retired newspaper publisher and syndicated columnist
