Monday, April 19, 2010

New Drilling on Coastlines for Oil

by: Capa Tpeuj

The Obama Administration wants to get into a very large energy resource that thrives along the coast of the Atlantic Ocean, and the Gulf of Mexico. But there is minor likeliness for there to be a change in gas pump prices. It could likely take years just for the drillers to know how much oil can be pumped from the places and where they can go. There is even a possibility that that the data they have is not even right for making maps or providing layouts for drillers to use. President Obama says that he will try to open the offshore areas in the Gulf of Mexico and off the mid and Southern Atlantic Coast. Oil and Gas resources would be formed off the Virginia coast and more than 125 miles from the coast of Florida in the Gulf. But Obama doesn't support drilling in Bristol Bay off of the coast of Alaska due to environmental concerns. If drillers are able to get as much oil out as they believe they can pump enough to cover a 15- year supply of oil, and a 23-year supply of natural gas according to Minerals Management Service. In the Gulf it is believed that there is over 41.5 billion barrels of recoverable oil that hasn't yet been discovered, and 161 trillion cubic feet of undiscovered natural gas.

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