One of the biggest arguments that liberals use against increasing oil production domestically is that it will “take 10 years to have any impact.” Oh really? Well let’s take a quick look at some facts.
Elm Coulee Oil Field, which produces oil from the Bakken Formation, was discovered in 2000. By 2007 the field had become one of the 20 largest oil fields in the United States. That’s within 7 years!
Liberals also like to state that drilling in places such as the Bakken Formation or ANWR would not have an immediate result on the pump. Let’s assume that they are correct (which they are not). Ok, we just assumed it. I would much rather start something now and realize it later, than not start anything at all.
Speaker Nancy Pelosi: Four, renew — invest in renewable energy resources, which will bring a faster return than drilling offshore, which will take 10 years and produce 2 cents’ reduction in 10 years off the price at the pump.
Here is the real deal: Increasing oil production domestically now will have a positive short-term impact on our economy plus a long-term impact on our oil independence. It’s a no-brainer.
Did Nancy Pelosi cave on offshore oil drilling?
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