CNN’s Erin Burnett is “Out Front” with the misinformation:
For a fourth straight day, gas prices in California reached a record high. A gallon of gas is 87 cents more there than the national average. The high prices are the result of a shortage. One way to bring costs down costs? Drill for more oil.
Today, Shell was doing just that – drilling into the Arctic sea floor for the first time in 20 years. The company expects to find enough oil to eventually meet one-fifth of America’s needs.
In reality, there is a world market for oil. Last year, the U.S. was a net exporter of oil for the first time since 1949. Did gasoline fall to the inflation-adjusted 1949 price of just over $2 a gallon? No. A glut of oil in North America simply means more exports and more oil company profits, not savings for consumers. CNN is wrong.
At the end of August, the Center for Biological Diversity issued a warning (emphasis added):
“By opening the Arctic to offshore oil drilling, President Obama has made a monumental mistake that puts human life, wildlife and the environment in terrible danger. The harsh and frozen conditions of the Arctic make drilling risky, and an oil spill would be impossible to clean up,” said Rebecca Noblin, Alaska director at the Center for Biological Diversity. “Scariest of all, the Obama administration is allowing Shell to go forward without even having the promised oil-spill containment equipment in place.”
Drill Baby Drill. It’s like the Deepwater Horizon catastrophe never happened.
President Obama Doubles Down on ‘Drill Baby Drill’ (June 21, 2012)
How Big is the Deepwater Horizon Oil Spill? (May 13, 2010)
President McCain: ‘Drill Baby Drill’ (March 31, 2010)