The more we look for oil and natural gas in the United States,
the more we find. If only we were allowed to go and get it.
According to the Department of the Interior (DOI), huge onshore
deposits of energy can be found on federal lands. Yet much of this
energy is either explicitly off-limits or hampered by regulatory
constraints that effectively make it so. Part of the solution to
high oil and natural gas prices lies right under our feet, but
Congress won't change the laws that keep this domestic energy
locked up.
Federal lands are critical to the energy policy debate because
most of America's onshore energy is located in the West and in
Alaska, where more than half the land is under federal control.
Such lands, DOI estimates, "contain 31 billion barrels of oil and
231 trillion cubic feet of natural gas." Thirty-one billion barrels
of oil represents 50 years of current imports from Saudi Arabia and
231 trillion cubic feet of natural gas is enough to supply all of
America's households for 46 years.
However, "just 8 percent of onshore Federal oil and 10 percent
of onshore Federal gas are accessible under standards lease terms,"
DOI notes. The rest is either restricted outright or subject to
considerable amounts of red tape. Among the former: Alaska's Arctic
National Wildlife Refuge, where an estimated 10 billion barrels of
oil lies beneath a few thousand acres at the edge of this nearly 20
million acre refuge.
Granted, few Americans want unrestricted oil and natural gas
wells in our treasured National Parks or other areas of scenic,
environmental or historical significance. However, the drilling
restrictions on federal land far surpass such reasonable limits.
This is especially true given the advances in drilling technology
that have dramatically reduced both the above-ground environmental
footprint and the risk of spills.
Even more energy lies offshore. Some 86 billion barrels of oil
and 420 trillion cubic feet of natural gas are beneath America's
waters, DOI says. Of those amounts, 19.1 billion barrels of oil and
83.9 trillion cubic feet of gas lie in federally-controlled
territorial waters that are completely off-limits to leasing and
development.
The actual volumes of onshore and offshore energy could be far
greater - DOI's initial energy estimates tend to be low. This is
especially true of the off-limits areas, which haven't been
thoroughly explored.
Many anti-energy activists and politicians insist that America's
untapped oil and gas reserves are merely a "drop in the bucket" and
therefore not worth the bother. But these DOI estimates put the lie
to this claim. As Congress once again addresses energy issues, it
shouldn't ignore the significant amount of energy right here in
America. It's time to make this energy available to the American
people.
Ben
Lieberman is a senior policy analyst in the Roe
Institute for Economic Policy Studies at The Heritage
Foundation.