03 May '11, 3pm

Telling the Simple, Hard Truth About Oil Drilling

With wrongheaded bills offered in the House of Representatives as described by my colleague David Goldston, I think it's worth reviewing evidence of the effect of drilling on how much we pay for gasoline every day. First, there is the basic question of the possible effect of bringing additional supply online assuming all other factors remain constant (which is foolish, but I'll get to that). This requires looking at the new Outlook from the Energy Information Administration (EIA), as writer Ben Jervey did here . It takes years for new drilling to come online, just as it takes years for our vehicle fleet to turn over to a more efficient one, so Ben did the logical thing -- he looked out to 2025 and contrasted the effects of more efficiency and more driling in the Outlook. The upshot is that a 60 mile-per-gallon average for new autos by 2025 could ease the price at the pump ...

Full article: http://switchboard.nrdc.org/blogs/dlovaas/telling_the_sim...

Tweets

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