The Truth About Drilling

Annual Energy Outlook 2007 with Projections to 2030
Release date full report: February 2007

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Impacts of Increased Access to Oil Resources in the Lower 48 Federal Outer Continental Shelf

• "The projections in the OCS access case indicate that access to the Pacific, Atlantic, and eastern Gulf regions would not have a significant impact on domestic crude oil and natural gas production or prices before 2030."
• "Leasing would begin no sooner than 2012, and production would not be expected to start before 2017."
• "Total domestic production of crude oil from 2012 through 2030 in the OCS access case is projected to be 1.6 percent higher than in the reference case, and 3 percent higher in 2030 alone, at 5.6 million barrels per day. For the lower 48 OCS, annual crude oil production in 2030 is projected to be 7 percent higher-2.4 million barrels per day in the OCS access case compared with 2.2 million barrels per day in the reference case (Figure 20)."
• "Because oil prices are determined on the international market, however, any impact on average wellhead prices is expected to be insignificant."

Read more on Marcy's energy policy.