Rep. Jim Moran has released a statement marking the one-year anniversary of the BP oil spill in the Gulf of Mexico.
The anniversary of the Deepwater Horizon blowout is a sad reminder of the dangers of offshore drilling to our economy, environment, and our people. Those who claim we can drill our way toward energy independence are misleading the public.
The truth is that we will never achieve energy independence by drilling for more oil from domestic sources. The United States holds less than two percent of the world’s oil reserves, while we consume more than 22 percent of the global annual supply of oil.
Ironically, more oil is in production today under [the] Obama Administration than at anytime during the last seven years of the Bush Administration. Yet, this increase in production has not had any impact on price. Prices are set in the world market based on world supply and demand, and market speculation. Even if all restricted areas in the U.S. were to be brought into production tomorrow, their delivery world boost production by less than two percent. Each day, we consume approximately 18.8 million barrels… while producing approximately 5.4 million barrels. More drilling will not close this gap.
Until we truly commit to investing in alternative sources of energy, ones that don’t poison our air and water, we will be dependent on a volatile commodity that the rest of the world is competing in price to consume.