Page 3 - Soil Needs News Today

Self-sufficient in our oil needs. well be part of the global marketplace. but imagine if it had four or five million more barrels a day from this hemisphere. then add the jobs. a million new jobs. tax revenue would boggle your mind. its over 127 billion in new tax revenue. instead what is happening were seeing this less production as we were talking about on federal lands, a lot less. just in the gulf of mexico, 230,000 barrels less production last year. that alone we could have $5 billion from ...

>> countries like china, south korea, japan, rely on iran for roughly 10% of their oil needs. if these countries decide to not buy iranian oil, how easy is it for them to be able to replace their supply? >> well, the world has about 3 1/2 to 4 million barrels of spare capacity. iran currently produces about 3.5 million barrels of exports, about 2.5 million barrels a day. if we lost that 2.5 million barrels to the market, effectively, saudi arabia would have to step in and make up for that shortf...

>> the idea that we move forward -- >> not a defense of bp, im just saying. >> we move forward -- >> were drilling which isnt a practical necessity. i would dispute your premise to begin. offshore drilling provides a very tiny percentage of our oil needs. where is the urgency and why arent you displaying the same kind of urgency to get us on clean energy. thats obviously where we need to be. we had a massive wake-up call. since september 11, in terms of energy addiction, and we need to respond t...