Green Options

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This was a big week for our Presidential candidates and energy policy, specifically domestic oil drilling. With the recent decision by a House Sub-committee to continue the ban on more offshore drilling, spirited discussion regarding domestic oil has sprung up everywhere. This week John McCain extended his support for offshore drilling, stating that he thinks the ban should be lifted however he also made the statement that he opposes any drilling of ANWR. Barack Obama opposes lifting the ban on offshore drilling and ANWR drilling.

As Americans, we have a lot to think about. The fact is we do have domestic oil that we are not extracting. Geologists report we have billions of barrels in both the Bakkan Shale and ANWR. Why is John McCain in favor of lifting the offshore drilling ban while at the same time opposed to ANWR drilling? Is it politically convenient? Is it a possible attempt to satisfy both sides of a debate? Why is Barack Obama opposed to all new domestic drilling? Despite the fact that offshore drilling is technologically at its best, we have other options in other areas.

A new report from the U.S. Geological Survey shows billions of barrels of retrievable oil beneath the Bakken Shale Formation which covers a large area from the Canadian border, down into North Dakota and Montana. A Reuters UK report states:

The Bakken Shale, comprised of thin layers of rock about two miles down, holds about 3.65 billion barrels of technically recoverable oil, the USGS said. The Arctic National Wildlife Refuge (ANWR) in Alaska could hold more than 10 billion barrels of oil.

Although ANWR is currently federally protected land, there are already companies retrieving the oil from the Bakken Shale. The current survey from the USGS, completed at the request of Sen. Byron Dorgan, D-N.D., is viewed as good news according to a statement in the Fox News story. This is due to the 25% increase in this estimate of retrievable oil over previous estimates in years past. Senator Dorgan believes this will bring “significant new investment” into the area.