19 June 2008

stop-gap or windfall?

in the NYT's today:

Bush Calls for End to Ban on Offshore Oil Drilling


Will $4 Gasoline Trump a 27-Year-Old Ban?

There is no need to explain the headlines. They tell the story very simply. You can read the articles for yourself by clicking on them.

They claim that it will mean an additional 18 billion barrels of oil in the future. The future means that it will take about 10 years to build the drilling and production facilities.

In the meantime, according to the estimates, the US consumes approximately 21 million barrels each day. That means it would add 857.14 days worth of oil. OR 2.35 years.

def.: stop-gap n. 1. That which closes or fills up an opening or gap; hence, a temporary expedient.

It's not a stop-gap measure if it's going to take 10 years to develop.

def.: wind fall 1> something (as a tree or fruit) blown down by the wind
2. an unexpected, unearned, or sudden gain or advantage.

Windfall? Who do you suspect will fund the search for and production of the additional oil? YOU, ME, and THE FEDERAL GOVERNMENT (again, you and me because we foot the government's bills.)

I was happy this week because for the first time in weeks and weeks it cost me under $70 to fill my tank (albeit only $67) but, if you stop and think about it, it's not something to be happy about.

how much did you pay this week?

gas prices.jpg

just asking...

No comments: