Saturday, July 12, 2008

Does Gull Island have enough oil to bail US out of energy crisis?

In some quarters, “conservatives” are writing that a place called Gull Island, off Prudhoe Bay, Alaska, could bring in enough domestic oil to bring down gasoline prices to $1.50 a gallon. The concept of "peak oil" or tap-out points, after which prices will rise astronomically and economic meltdown must occur, is left-wing hogwash, they say. Contrast this with the outlook of the "End of Suburbia" films (reviewed on my movies blog July 4).

For example, an article by Mark Anderson at American Free Press claims “Alaska’s Gull Island Oil Fields Could Power U.S. for 200 Years,” link here. That’s an old article, looking back to August 2002. The article maintains a high-level Manchurian-like plot to use oil to keep the world masses under control.

And a 2005 article by Joel Skousen of the “World Affairs Board,” “Gas Price Manipulation and Gull Island Oil,” at “Rense” and discusses both the Kuparak and Gull fields.

There is also a series of YouTube videos by Lindsey Williams (a Baptist minister), author of “The Energy Non Crisis” from this link. There is a list of these videos at “Educate Yourself” here. I do see that the book dates back to 1980!

Williams also claims that the US is targeting Iran for wanting to use its own currency for the price of oil, rather than the US dollar. But pricing of crude oil in dollars may be driving the price up for American consumers more since the dollar is weak, in the wake of the subprime crisis; link.

Gull Island is located very near Prudhoe Bay, 400 miles north of Fairbanks on the Arctic Ocean. Wikipedia states that the amount of recoverable oil from Prudhoe Bay is twice that of the next largest domestic field in East Texas. High temperatures there in mid July typically reach the mid 50s.

Update: Monday, July 14

USA Today has a front page cover story by Rick Jervis, William M. Welch, Richard Wolf: "Worth the Risk: Debate on offshore drilling heats up: doubts persist despite oil industry advances," link here. Away from the Gulf of Mexico and Alaska and a little bit of California, most areas are still closed off, and in theory have enough supply to last a few years. CNN also recently presented a brief report on the boom in oil shale in northern Alberta, and Canada may export this oil to China (if a new Pacific pipeline is built) as well as to the United States.

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