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Both John McCain and Barack Obama support some form of offshore drilling to increase domestic oil supplies.

Obama announced last month that he would support the New Energy Reform Act of 2008, which allows limited offshore drilling and boosts America's funding for renewable energy sources. (The five Republican and five Democratic senators who introduced the bill hope to get a vote on it this fall.) [Also see Grist Magazine]

McCain has come out more strongly for drilling.

[Check out the Energy Experts Live energy policy debate]

"Probably one of the most important differences between John McCain and Barack Obama is McCain's emphasis on being able to produce affordably the energy we need now under the current system while we're making the transition to things like renewables and away from oil," said Jim Woolsey, McCain's energy adviser.

But Woolsey admits that oil from offshore drilling wouldn't be available to American consumers for another five or 10 years because of the time needed for exploration and construction.

"In 10 years, we could already have an affordable [alternative] fuel source," said Brian Young, communications director for the College Democrats of New York and president of the Binghamton College Democrats. "…The studies say that, if we drill offshore, it would only reduce our gas prices by 1 to 2 percent."

Energy efficiency--through keeping our cars better tuned and keeping our tires properly inflated-- would be a much quicker and cheaper way to reduce fuel consumption, according to Young and Bill Becker, executive director of the Presidential Climate Action Project.

"One of the things I think the next President needs to do is launch an energy efficiency surge economy-wide--one like we've never done before," Becker said.

Yet oil speculators could lower oil prices if they know offshore petroleum will hit the market in the future, according to Jim Woolsey, McCain's adviser.

"Once you begin to show resolve on such issues as drilling, it begins to potentially affect the market somewhat," Woolsey said.

Charlie Smith, chairman for the College Republican National Committee, points out that no one knows when hydrogen and electric vehicles will actually be for sale. Smith thinks that we have to develop domestic oil supplies in the interim.

"There's no reason we can’t drill for oil to try and solve some of this economic crisis in the short term and invest heavily in alternative energy," he said.

But Republicans could be using offshore drilling as "a smoke screen to prevent us from actually bringing a real alternative fuel source to America," said Brian Young with the College Democrats of New York.

And environmentalists worry increased ocean drilling would further the risk of oil spills that could devastate marine life.

Smith and Woolsey, however, contend that oil company drilling technology has improved greatly in recent years, which makes spills much less likely.

"In fact, if you look at studies of what would happen with offshore drilling or even with drilling in ANWR (the Alaska National Wildlife Refuge), you actually see a lot of environmental benefits," Smith said.

[McCain's running mate, Alaska Gov. Sarah Palin, is in favor of drilling in ANWR. McCain is opposed.]

"…You'll see tremendous reefs where fish will come and swim right around the drilling sites," Smith said. "It's providing a whole new habitat for them. The caribou up around Prudhoe Bay has actually been thriving for years because the oil companies came in and put a lot of investment in and were able to protect the caribou from a lot of the problems they were experiencing as a species."

Ultimately, states need to voluntarily agree to have drilling off their shores, Woolsey said.

[The governors of California, Oregon and Washington have come out against drilling in their waters. Although, Santa Barbara, Calif., the site of a major oil spill nearly 40 years ago, announced its support for drilling.]

But Charlie Smith believes the federal government should trump the states on drilling.

"We're talking about a national security problem here that we're facing--sending $700 billion a year to people who aren't very good friends to the United States," he said. "I think in the end this is a federal decision that should be made by the President and Congress."

Published: Sep 12,2008 00:28

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