In "N.C. drilling is no solution" Doug Rader of Environmental Defense rehashes a number of popular energy myths.
First, he says "drilling for oil off North Carolina’s coast will not reduce costs at the pump. Anyone who says so is flat out wrong." I say so. I’m not wrong. Here’s why: the prospect of new supplies – from N.C., Colorado or ANWR – will signal speculators to change their investment patterns based on these expectations. Because futures markets determine the price per barrel – which has direct bearing on price at the pump – drilling domestically today could lower price significantly–today.
Then Rader asserts: "potential for significant quantities of liquid petroleum in the Southeast is quite low." If the potential is so low, oil companies won’t drill. So Why should he be concerned about lifting any bans. Profit-potential ultimately guides drilling.
What about the N.C. fishing industry? The coastal environment? We need only to look at other states, such as Alaska, Gulf States and other states with offshore industries. Of course, Rader offers no proof at all that platforms harm fishing or the environment. Unsubstantiated claims do not reasoned discourse make, and the lack of offshore oil spills during Katrina can be a guide to the risks of offshore oil in N.C.
Finally, Rader argues "North Carolina should invest in innovative energy alternatives." By "invest" he means subsidize. By "N.C." he means you. Rader wants you to pay ever-higher home energy rates for non-cost-effective (failed) energy sources like windpower, which – by the way – have nothing to do with fueling your car. Such alternatives are unreliable, expensive and require massive subsidy by taxpayers.
Rader passes over the Eastern N.C. jobs that won’t be created if we continue with the status quo. Worse, his radical environmental agenda will make us all poorer in the long run.