US President Barrack Obama, during his pre election campaign in the year 2009, made a pledge to bring down the prices of oil in the country by drilling domestic oil. This move will lower the costs that the government uses in oil importation. The high costs of fuel that the country is facing have threatened Obama’s reelection in the year 2012. This is because it affects economic revitalization, which is essential for his reelection. The President has sought various ways to be used in ensuring economic revitalization in the country. Some of this ways include reduction of oil use, making more use of renewable sources of energy and also promoting utilization of available oil resources. Obama has directed various departments to start drilling oil in various areas which include Alaska, where he has addressed various ways of improving domestic drilling and ease the means through which permits are given for drilling companies.
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The question of whether to drill or not to drill domestic oil has been hitting the minds of many. According to me, the government should drill its domestic oil resources. This fact is supported by various benefits that accrue from it. A major benefit that the country will realize throgh domestic drilling is in its efforts to revive its economy (Dautrich & Yalof, 2011). The country is now facing high cost of fuel and high consumption as well. Most of this oil is imported and this means that the country spends more than half its resources in purchase of fuel. Drilling of domestic oil will ensure that the country save its financial resources and therefore, boost its economy.
The availability of resources in the country is also another key issue that the government should look at in its effort to boost its economy. In America, there are various places that have been established to be containing high oil reserves. Some of this areas are Alaska, which is a 23 million acre reserved as a source of fuel since the year 1923, Gulf coast, and other parts of the country that are rich in oil. There is also another factor that should be put into consideration while determining whether to drill or not. Drilling is a process that may require high levels of technology to be put in place so as to reduce the risks that go with it. Some of the people, who are opposed to drilling of oil, have put forward various facts to support their idea (Chiras, 2009).
The group, mostly the republicans are opposeed to the view of drilling of oil in the country. They have given various reasons for their belief. Some of the reasons include the fact that the country has to give a company the contract to drill its oil reserves. To them, the company will assume total ownership of the oil and therefore, they make a decision on its prices and its exportation. The oil reserves will not be for the country, but it will be for the contracting company. Their main fear is that of the Chinese people taking most of the oil resources from Florida. Some other factors have also been put forward that play a role in hindrance of drilling. These are the fears from the environmentalists that drilling will lead to overdependence of domestic oil in the country, which brings about various hazardous effects on the environment.
These views held by those in opposition, in my opinion are not genuine. First, the fear of oil belonging to the contracting company is political. The government has the ability to make a decision on the way the company should operate. It will give contract to a company that is focused only on drilling and not selling oil. The views of the environmentalists can only be prevented by use of improved technology.