Offshore Oil in America

I wanted to make this thread to inform people about the issue everyone is talking about right now Offshore Oil in the U.S.

This is an Overview of U.S. Legislation and Regulations Affecting Offshore Natural Gas and Oil Activity

www.eia.doe.gov...

And this article talks about how China is about to drill just 60 miles of the U.S. coast for oil. So if we don't get it they will.

www.onenewsnow.com...

There is an estimated 86 billion barrels of oil off of our shore. That does not include all of the undiscovered sources. It is time that we start fishing for our own oil and leave the middle east alone.

From what I understand (though I have not looked very deeply into the subject) it is estimated that 80% of the offshore oil is located in areas that are currently leased and open to drilling, but the oil companies are not drilling (perhaps to keep the supply low and prices high?) even though they can
The offshore drilling "ban" we have been hearing about does not ban the 1000's of leases that were grandfathered-in in ~1990.
Besides....do we really want to maintain our Energy vulnerability by using more oil? The prices need to stay high, we need to cut off subsidies to the oil companies and switch those subsidies to alternative energy that we can develop, control, and get from within our own borders.

Um...you're suggesting that we should just let China steal our oil from right under our noses in the interest of keeping prices high to encourage alternative energy development? We're going to end up paying China for oil that they slant drilled right out from under our own soil...how does that make sense?

We need to start extracting this oil yesterday. It would generate some positive cash flow into the country, lower prices, and generate jobs.

How are we going to start extracting this oil with a desperate shortage of
rigs? Where I live; every rig is working and any roughneck that wants a job has one, even to the point of hiring Mexican illegals. I'm sinking everyavailable cent into extraction tech. Leases abound but there is an equipment shortage.

Parrot back Rush and Sean who know nothing about the realities of the energy business. Just Trying to make political points on Ignorance is STUPID and dishonest.

gis.bakerhughesdirect.com...

You do know the whole 'china drilling off Florida' thing is a lie, right? They have an ONSHORE well in Cuba...