13 Feb '12, 1pm

Energy News Recap: Scientists Warn Against Arctic Oil Drilling

The US government's own energy analysts and many experts see a limit to this new gusher. The technological advances that have driven the revival—high-volume hydraulic fracturing combined with horizontal drilling—can only squeeze so much more crude out of the U.S. landscape, they say. Projections are that U.S. oil production will never again reach the lofty heights of the 1960s, even without environmental concerns slowing development or hampering industry with new costs. But most importantly for U.S. consumers, the new supply is not expected to provide relief at the pump. The price of gasoline, still governed by global geopolitical factors like Middle East conflict, burgeoning economic growth in Asia, and constraints on supply around the globe, is projected to increase at a rate of nearly 2 percent per year. In the United States and elsewhere, the only way to escape the eve...

Full article: http://www.treehugger.com/energy-policy/scientists-warn-a...

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