Five Reasons Why We Need Big Oil Drilling

The speculations regarding the need for expanding oil drilling in the United States, both offshore and inland, receives plenty of bad press. There are certainly dangers to drilling and transporting oil when it is not done properly. However, people tend to focus on the few negative events while ignoring the total impact and positive effect that drilling for oil has on this country. Considering the potential benefits of continuing to expand oil drilling might sway some of the minds of the naysayers.

Stability of the Dollar

The economic climate of the United States has changed for the better over the past decade, but we are still far from being secure and thriving. Drilling for oil continually supplies jobs that assist in maintaining the health of the American economy. Rig operators, on-site construction, administrators, and maintenance specialists all depend on this practice for their livelihood. The economic benefits are essentially a given. The government would potentially be able to lower its deficit and address other key concerns through the royalties made from exporting more oil. Additionally, reducing the dependence on foreign sources lowers the price of gasoline within the United States borders.

A Sovereign Nation

A total of 25% of the world’s oil supply is consumed by the United States. Domestic drilling is far from supporting this need despite the fact that we potentially have enough sources of untapped oil to do so. A large portion of the oil consumed comes from politically tumultuous parts of the world such as the Middle East and Afghanistan. Reducing our dependence on countries such as these aids the government’s ability to increase national security. It also costs money to import this oil. The U.S. spends millions of dollars each year importing oil from Canada alone.

From the Federal to the State Level

The extra income to the federal government will invariably trickle down to the state level. Estimates say that nearly $18 trillion dollars in domestic oil is waiting to be utilized. As the money goes into building the infrastructure to harvest the oil, the businesses and their employees pay taxes on their income to the state in which they live, making a serious impact on the struggling budgets that most U.S. states currently face.

Do Not Discount Technology

As the drilling continues to provide benefits, the technology used in the practice becomes more efficient. The industry itself does drive the need for innovation. In order to stay competitive and safe, oil drilling companies continually make technological advancements a high priority. Nan Gall Tools here in the United States are used by the workers, and the development of Fracking practices all contribute to our understanding of the drilling practice. There are constantly evolving procedures with an eye on safety.

Long-Term Benefits

Off-shore drilling in areas surrounding Alaska are the most promising ventures for exploration. Utilizing coastal plains makes only a minimal impact on the environment. Current estimations for projects off the Alaskan shores show that only 200 acres of a 1.5 million acre coastal plain would be put to use. The small amount of land would potentially lead to discoveries in oil that would yield anywhere from 9 to 16 billion barrels of oil. Taking advantage of these kinds of resources for the American economy from shores all across the country would considerably stabilize the oil industry for decades.

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