Offshore oil drilling proponents ignore the reality that offshore oil reserves are too small to significantly impact world oil prices or U.S. reliance on foreign oil. Offshore oil, which necessitates costly and environmentally dangerous drilling, is estimated to be able to produce only about 514 million barrels annually by 2030—less than 1 percent of global oil production.
Instead, these five alternatives to offshore oil for the transportation sector would decrease energy demand, limit U.S. dependence on foreign oil, cut costs for consumers, and reduce carbon emissions.
1. Increasing fuel economy standards
2. Hybrid-electric vehicles
3. Alternative commuting patterns
4. Plug-in hybrids
5. Cellulosic ethanol