Essay about Drilling for Oil in The Gulf of Mexico

America has been dependant on oil since the 1800’s and the invention of modern machinery. From skin care products to the gasoline in our cars and engines, petroleum is the basis of almost everything we use for everyday life. Without oil the nation could not meet the energy demands we need to survive. Continued exploration has been the topic of heated debate among supporters and opponents, especially when it comes to offshore drilling. My goal here is to show the differing view points of drilling for oil in the Gulf of Mexico and present a better understanding from a national perspective. Drilling for our own offshore oil reserves can save the United States billions of dollars. HISTORICAL OVERVIEW For Decades offshore drilling in the†¦show more content†¦In the past, he has introduced legislation to increase oil-and-gas drilling in the Gulf of Mexico and other offshore regions. The Republican Party has initiated numerous hearings to grant leases for drilling. In March 2011 Hastings said, â€Å"Let me state very clearly that these hearings will lead to action by this committee,† Hastings said. â€Å"As chairman, I intend to introduce legislation to put the Gulf of Mexico back to work.† There are five compelling reasons why the United States should drill our own oil, as found by a 2008 study group: jobs, revenue, economic growth, public demand, and energy independence. Allowing drilling off the coasts of the U.S. would also create over 100,000 new jobs. Over $1 trillion in royalties for federal and state governments could be collected. By using our own reserves we will spend far less on imported oil and move closer to our energy independence. According to a study done by the American Petroleum Institute, if offshore areas were opened to new exploration and drilling, the national production is estimated to increase by 36% in 20 years. Federal royalties are estimated to be approximately $4 trillion over the project life cycle; A hefty weight off future tax payers if applied to the federal deficit. CONTRASTING OPPOSITION The Obama administration had backed a major plan setup by RepublicansShow MoreRelatedOffshore Oil Drilling and the Deepwater Horizon Spill of the Gulf of Mexico1591 Words   |  7 PagesOil is a very important fossil fuel that is used for various sources of energy. Oil supplies power to industries, fuel for transportation, heat for buildings, and provides raw material for plastics, paints, textiles, and other materials (hybrid cars). To access this fossil fuel, oil drilling is used. 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