This week’s big environmental news, namely that President Obama has authorized major offshore drilling in the Gulf of Mexico and off Alaska, may not be popular with the left but it’s hardly a surprising move, or a necessarily wrong decision. Although he long opposed (and still does oppose) drilling for oil in Alaska’s spectacular Bristol Bay, Obama has consistently been in favor of getting more out of America’s domestic resources. Analysts of the machinations of Capitol Hill and the White House are already seeing this as a ploy to get the Republicans on board the struggling Climate Change Bill. But there’s more to it than this. Obama must surely know that it will take far more than a loosening up on this policy to persuade Republicans to accept cap and trade.
Although oil prices are currently holding steady at a little over $80 a barrel, high but not stratospheric, there is a growing concern that the world is heading for a global oil crunch. Not tomorrow, but over the next five years. As Asia consumes an exponential volume of fuel and experts revise their estimations of proven oil reserves, skepticism over the ‘sustainability’ (I know it’s not the first word to come to mind) of our current energy situation increases. When you add this to the potential of the Iran nuclear crisis leading to an unprecedented Middle East conflict, in which the Iranian regime carries out its threat of mining the vital Strait of Hormuz, the U.S. may be in immediate danger of, if not having access to enough oil, then paying astronomical prices for each barrel. Hence, the current rush around the world to secure more reliable sources of energy. Hence, the E.U.’s fast-tracking of the Nabucco pipeline. Hence, the recent furore over the potential of huge untapped Shale gas reserves located throughout America and Europe. Hence, the increasing willingness of the industry’s mega-groups to go to ever greater lengths to drill. Hence, Obama’s authorization of more exploitation.
In an ideal scenario, we would all be driving electric cars and getting our power from the wind farm 10 miles away. But that’s not about to happen. As the developing world continues to industrialize, the world is only getting more addicted to fossil fuels. At the rate the West is fulfilling its clean-energy goals, it will be an inestimably long time before we are even close to abandoning our reliance on oil and gas. In the meantime, we can do our economy and our national security a favor by getting more carbon out of our own territory.
Photo Credit: http://www.flickr.com/photos/geowombats/137786254/