Made by Krauthammer:
We import two-thirds of our oil, sending hundreds of billions of dollars to the likes of Russia, Venezuela and Saudi Arabia. And yet we voluntarily prohibit ourselves from even exploring huge domestic reserves of petroleum and natural gas.
At a time when U.S. crude oil production has fallen 40 percent in the last 25 years, 75 billion barrels of oil have been declared off-limits, according to the U.S. Energy Information Administration. That would be enough to replace every barrel of non-North American imports (oil trade with Canada and Mexico is a net economic and national security plus) for 22 years.
That’s nearly a quarter-century of energy independence. The situation is absurd. To which John McCain is responding with a partial fix: Lift the federal ban on Outer Continental Shelf drilling, where a fifth of the off-limits stuff lies.
Technological conditions have changed as well. We now are able to drill with far more precision and environmental care than a quarter-century ago. We have thousands of rigs in the Gulf of Mexico, yet not even hurricanes Katrina and Rita resulted in spills of any significance.
The entire Arctic refuge is one-third the size of the United Kingdom (which includes Scotland and Wales). The drilling site would be one-seventh the size of Manhattan Island. The footprint is tiny. Moreover, forbidding drilling there does not prevent despoliation. It merely exports it. The crude oil we’re not getting from the Arctic we import instead from places like the Niger Delta, where millions live and where the resulting pollution and oil spillages poison the lives of many of the world’s most wretchedly poor.
The full article can be found here.