A senior administrator from the Obama White House told the Associated Press that the Interior Department will not propose any new oil drilling in the East Coast for at least the next seven years, according to reports from Forbes. This is allegedly due to the after-effects of the BP Oil Spill.
While the oil spill was a tragedy, the Obama administration will have to go back on this decision. The choked drilling, reduced supply, and increased prices will pulverize the US economy, bringing everyone to a literal and figurative standstill.
If these increased rates of gasoline prices are indeed seen through, the situation my wife and I find ourselves in right now would play out in varying degrees all over the nation. Not only would our personal spending get slashed, but there would be no way my wife and I could continue our work-related travel.
As it stands today, my wife and I are living in a very expensive free home. We are staying in Sherman, Conn., for free. However, we both work in New York City and spend around five hours a day driving the 80 or so miles each way back and forth. This daily exercise is exhausting and obviously can’t last. It’s also expensive, costing us approximately $500 a month. Gas at our local stations is a fairly expensive $3.15 or thereabouts.
However, if this drilling moratorium put further strain on the already depleted resources, that would spell trouble. In 2007, when gas prices shot up on fear of shortages, the area of Connecticut/New York — where we are currently — and the area of Los Angeles — where we were living for some of that time — saw prices I could not believe. If prices were to shoot up one, two, or more dollars a gallon, there would be no way we’d be able to pay for that. We’d only drive when we needed to, and our world would likely shrink.
The same would happen everywhere, and the domestic economy would suffer. People would stop taking trips; hotels, tourism, and airlines would suffer. Moving back to New York City might seem like a good option; after all, public transit is great, or, at the very least, you can walk everywhere.
But that would be a bad apple too. New York City is an island; products and services are already in limited enough supply there. Imagine how much the costs of everything would rise if it cost more to get these same products to the shelves? Bread, juice, fruits, vegetables, meats, eggs, milk — all basic necessities would all cost so much more.
The United States needs gasoline; this oil-drilling moratorium needs to be reversed. In the ever more connected world that we live in, shutting people off from their nearby and distant neighbors because they can’t afford to fill up the tank is no way to support a flagging economy.