Offshore Drilling

America’s economy is heavily based on petroleum, as though it is the nation’s blood; a necessity for survival. Reacting to America’s support of Israel, Arab (OPEC) nations in the Middle East restrict oil exports to the U.S. As a result, a decrease in the oil supply caused gasoline prices to quadruple. As America attempted to promote alternative energy sources, oil companies expanded their search for offshore oil. Approximately 25% of oil produced in the U.S. comes from offshore rigs. Due to environmental concerns following an oil spill off the coast of California in 1969, an offshore drilling suspension was put in place. Since then, America has amplified its expenditure of energy to nearly 25% of the world's oil. Meanwhile, the U.S. produces about 10% of the world's oil, because much of America’s coastline has been out of commission for oil drilling since the early 1980’s. America must wean itself from dependence on foreign oil, and one valid solution to this problem is offshore oil drilling.

The initial American offshore drilling to occur dates back to 1947, with a well located several miles off the coast of Louisiana. The following years saw an expansion of automobile use in America resulting in an increase in demand for gasoline. On September 10, 1960, The Organization of the Petroleum Exporting Countries (OPEC) was created at the Baghdad Conference by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. In order to secure what they believe is a fair price for petroleum producers; OPEC imposes regulations among member countries. OPEC also credits that they create an efficient economic supply of petroleum for consuming nations (“Brief History”). This organization sets oil prices daily by restricting the production of crude oil, and ...

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...imates the benefit of offshore drilling, say supporters.

Addressing criticisms that the oil industry has not yet taken advantage of areas that have long been available, supporters say that the undiscovered oil estimated to be in the available areas is either too difficult or too expensive to extract.

Supporters also insist that they do not consider offshore drilling to be the only solution to U.S. energy needs. Development of alternatives to oil may be preferable in the long run, they suggest. At the moment, however, there are no other widely available, practical energy sources capable of powering vehicles, they say. That makes it necessary, they argue, at least in the near future, to find secure oil reserves and keep gasoline affordable.

Proponents say that other countries seem to function well without the kinds of offshore drilling bans the U.S. has in place.