News: Energy Expert Gustav and Off-Shore Drilling

[RH77]

Tropical Storm Gustav seems to be headed straight for the Gulf's U.S. oil production center. Is off-shore drilling the answer to our fuel crisis? Maybe not...

Wired.com Article.

[mavinwy]

It is not THE answer....

However, it is certainly a factor.

I don't believe that the use of "fossil" fuels will go away in my lifetime. But I can certainly see the use of them leveling out and the use of alternative engergy sources increasing. Then when one area gets hit (gulf coast in this case) by weather or whatever, the energy we as a country need is still available. Oil and Coal (and finding ways to improve their efficiency) wind, water, solar and even nuclear power all will play a factor in energy for the future.

I do find it intersting that the price of a barrel of oil went up BEFORE the storm hit.....

And they say that it is not an "investor" thing....right......

Jim

[ankit]

haha, not an investor thing. I don't know who says taht but they need a reality check. Crude was something like 10-15% above actual value because of too much investing. They were saying that it is a investing bubble just like the housing market was a couple of years ago. Sooner or later it is going to burst (don't know if it already did with teh recent drop in prices) but that won't be fun for investors.

Now for the offshore drilling. I don't believe that is the solution. Just like Mavin said, it can suppliment the energy policy, but it should not be what we are depending on to pull us out of this rut (as everyone on this site probably already knows). More conservation, clean (in hygenic and clean burning forms) public transportation, as well as the alternative energy sources that Mavin mentioned. Offshore drilling should be just a small suppliment to the energy crisis, with the goals of devoloping alternative energy first. This is just where I stand and I know that everyone has different views.