If we don't drill it, someone else will

[Pangloss]

I think they're already drilling well beyond the continental shelf (which is only, what, 600 feet? I think they're out to ten thousand feet or more). POM can probably answer this for us. He and I had a disagreement earlier about whether deep oil might be useful down the road.

[Aardvark]

So, how does the thing about drilling in international waters work? Does anyone need to buy rights from someone, or is it first come, first served? Or is it just too deep to drill away from the continental shelf? I'd think it would be quite messy if there were oil there for the taking by anyone.

 

Comparatively little oil has been found completely off the continental shelfs (it doesn't seem to have formed so easily out of relatively shallow waters), at present no oil is being drilled that far out, but theoretically the United Nations 'Law of the Seas' would be applicable which grants the UN jurisdiction over all international waters. . President Bush is pushing for the USA to ratify it.

 

Re drilling near shorelines: couldn't they just make a ring around the rig to contain any spills?

 

Possibly, although it would have to be very tough to stand up to all storms. In addition, the oil then has to be transported, either through pipes or tankers. All along the process it is possible for there to be leakage. However, every other nation on the planet seems to manage it, it's seems odd that the USA should whine about the high cost of imported oil and then find it impossible to drill its own when it has large deposits off its coast.

[iNow]

"Large deposits" is not a very representative description of the amount of oil being discussed. Of course, large is relative, but relative to our massive consumption, there's hardly any oil down off the coast. I seem to remember 3 months worth, but I'm not sure if that was in relation to Florida or ANWR.