If we took all the crude oil from offshore drilling in the US, and only used that oil, how long would it last?

I hear them say: Drill, Drill, Drill, and I wonder...will it be worth more later...after it is gone??If we took all the crude oil from offshore drilling in the US, and only used that oil, how long would it last?
perhaps a week or twoIf we took all the crude oil from offshore drilling in the US, and only used that oil, how long would it last?
First off, America use 25% of the world's oil. It owns 3%. Drilling will take 7-10 to produce a drop. And then it will all be sold to Japan and countries that are developing, like India. By 2015, we will have hydrogen away. We already have the technology for natural gas powered cars and soon hydrogen. If we used wind, solar, plasma waste incineration, and nuclear power we could use electric. We could be much, much, more efficient if we used electric and invested in the expensive technology. It would pay for itself really quickly. We could sell natural gas to India and other countries and put America on the export part of the world economy, for once we would sell more than corn and wheat. Th oil we would drill would do nothing to help the prices, and any company interested in it would go for profits, not American. There European and Asian companies anyway.
We estimate reserves of offshore oil will last 100 years or more. They go up every year with new technology.





You'll here stuff like the AWR will only produce enough oil for 5 years, but that's if you pumped it and it supplied all of the US and you shut off all the other wells.





If you take the attitude of, why drill, it'll take 10 years to get to market, then why research any fuel, electric cars, solar, anything. That is being just plain ol pig headed, the ol, my way or nothing attitude.





As for hydrogen, it will NEVER EVER BE a fuel. H2 is man made, there is no H2 gas anywhere on this planet. There are two ways to make, from oil/gas or from electricity. If you use electricity to make H2, that would be sinful. You see, for every kilowatt of electricity you put into making H2, you only get .6 kilowatts out, that means you just wasted 40% of the power of that plant making electricity. If I went out and left my lights on in my house and wasted the power and that meant you didn't get any, would you be very happy?





Stop listening to just one side, think about, vote with your brain and common sense, not because of others that will not compromise. Build solar, wind, whatever, but think about the cost and the real technology.
IFFFF.....we figured out,funded and got on the conservation band wagon; developed safer ways to get that oil from the ground,were using many other alternitive fuesl, by 2020, we (the US) would no longer be dependant on oil from people that want us dead. The things that must be concidered are more complicated then just to drill or not to drill. The reality of the number of people living on this earth will tripple in the next 30 years. The greenhouse gasses omitted by the use of dirty fuels MUST stop and must stop very soon. Every year we do not get going on the ECO trail the farther behind our country becomes on the global playing field. I do not have the exact figures, but I have heard quoted there is more then enough oil on earth to support evryone for many many years if we stop using it as our primary source.
Your point is a good one. Say you had ownership of proven reserves, and you see oil prices going up fast. You might be tempted to wait and pump that crude later. That may happen some. Some but not much.





Here is the issue. You will be pumping oil for three to five decades. Over that time frame, you dont know how prices will fluctuate, but the constant stream of income will be nice. With that money you might buy more oil fields, for example. If the well were a more short-term investment, then it would be different, of course.