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Posted Tue Sep 16 2008: from Scientific American:
Can Offshore Drilling Really Make the U.S. Oil Independent?
No one disputes that a lot of oil lies untapped under the rocky floors of the Atlantic and Pacific oceans off the U.S. coasts... The [Minerals Management Service] has estimated that there are around 18 billion barrels in the underwater areas now off-limits to drilling. That's significantly less than in oil fields open for business in the Gulf of Mexico, coastal Alaska and off the coast of southern California, where there are 10.1 billion barrels of known oil reserves as well as an estimated 85.9 billion more... But here's the catch: There is a chance that the MMS has miscalculated the amount of offshore oil, because its estimates are based on 30- to 40-year-old data.
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'Doc Jim says:
They've been too busy servicing each other to come up with new estimates!

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