T&T: T&T: Cheaper offshore oil

[Noel Russell]

Re: T&T: Cheaper offshore oil$5.15 at LHYC (Don't ask how I know. LOL)

Noel





N.Y. RUSSELL

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-----Original Message-----

From: LRZeitlin at aol.com

Sent: Thu, 03 July 2008 11:56:35

To: trawlers-and-trawlering at lists.samurai.com

Subject: Re: T&T: Cheaper offshore oil



Don't hold your breath waiting for cheap oil from offshore drilling. The US 

Energy Department's Energy Information Administration, in its Annual Energy 

Outlook Report considered the likely effects of allowing the existing 

congressional and executive moratoriums on certain offshore drilling to expire in 2012. 

It stated that the projections for drilling in the Pacific, Atlantic, and 

eastern Gulf Outer Continental Shelf would not have a significant impact on 

domestic crude oil and natural gas production or prices before 2030. Leasing would 

begin no sooner than 2012, and production would not be expected to start before 

2017.



I'm not making this stuff up. It is in the official report. Even if drilling 

began tomorrow, the first barrel of oil wouldn't arrive until 2012 or 2013. 

Just in time for the next presidential election. 



Diesel is now about $5.50 a gallon at some Hudson River marinas. Thank God my 

Willard has sails. It has mediocre sailing ability but still can move through 

the water (slowly) without fuel.



Larry Z





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