Gas Prices Could Rise to $5 Per Gallon

[X5rolls]

Originally Posted by JCL

Yeah, that's what I thought when I read it. I first read an editorial today which was essentially saying "Why Isn't Anyone Talking About This?" It was linked to a source article, then another article, and eventually I got back to the USGS press release from October 2010. That press release didn't seem to generate much reasoned debate, and that is unfortunate IMO.

Yes, that is unfortunate. Big bells should be ringing. This puts a big priority on further exploration in Alaska, the continental US and our coastal waters IMO. We have to get a handle on what reality is. Quickly.

[JCL]

Originally Posted by X5rolls

Yes, that is unfortunate. Big bells should be ringing. This puts a big priority on further exploration in Alaska, the continental US and our coastal waters IMO. We have to get a handle on what reality is. Quickly.

The down-estimate was a product of a significant exploratory drilling program. There doesn't seem to be the political will on either side of the spectrum to drill in the ANWR, and extrapolating from the findings documented above, it may not ever be worth drilling there.

Knowing that vast parts of Alaska do not have the oil that they were previously supposed to have, perhaps effort could be put into starting to affect demand.

[X5rolls]

Originally Posted by JCL

The down-estimate was a product of a significant exploratory drilling program. There doesn't seem to be the political will on either side of the spectrum to drill in the ANWR, and extrapolating from the findings documented above, it may not ever be worth drilling there.

Knowing that vast parts of Alaska do not have the oil that they were previously supposed to have, perhaps effort could be put into starting to affect demand.

I think things can be done in parallel. Walking from exploration doesn't do anything but put it off till later when scarcity is higher. I think there is a bigger responsibility to know exactly what resources actually do exist. Regardless if they are used now, in the future or never. Not knowing seems unwise IMO.