Why is Alaskan oil sent to Japan?
- JLv 61 decade agoFavorite Answer
No, it is not true.
At one point in time there was a longstanding ban on oil exports from Alaska, but in 1995 Congress approved legislation lifting that ban.
Between 1996-1999 only 5.5% to 7% of North Slope oil was exported to Asian countries.
In June 2000 Alaskan oil again ceased to be exported, and 100% of Alaskan production has stayed in America.
- liberal_60Lv 61 decade ago
It is not being sent to Japan, and even if it was, it would not matter. The price of oil is determined by a world-wide market place and so the geographic origin of any particular barrel of oil makes no difference to the price.
Except for minor differences in transportation costs, oil pumped in Texas, Pennsylvania, or Alaska sells for about the same as oil pumped in Saudi Arabia. The price is not exactly the same because different grades of oil are produced at different locations.
It's important to understand this, because it is clear that drilling for more oil in the US will not bring the price down unless we pump enough to make a serious impact on the supply side of world-wide market. It's not going to happen. Even if all environmental restrictions were eliminated today, there would be a 10 year delay before ANWR (Alaska National Wildlife Refuge) or offshore drilling had any significant impact. We can't develop oil fields overnight. See the US Department of Energy links below.
We also can't develop alternative energy sources immediately. Nuclear power plants, solar power, wind power. shale oil, and others all take time to develop.
We need keep the oil prices in check now, to give us time to develop alternate sources of energy. If we reduce our consumption of oil immediately, it will help on the demand side of the supply and demand equation. It will also help improve our balance of payments deficit by reducing the need to import oil.
We don't need all people to give up all their cars; we just need most people to use their cars more efficiently.
Almost everyone can have some impact on energy conservation by combining trips, carpooling, using more fuel efficient cars, walking sometimes, cycling sometimes, staying home sometimes. using mass transit sometimes. Most people won't be able to do all of those things, but most people can do some of them. If we cut our demand by 10% the impact on the demand/supply equation would instantaneous. Whereas drilling for more oil in ANWR might have an impact 10 years from now. We can and should continue drilling for oil in less environmentally sensitive parts of the country, and we are doing that.Source(s): ANWR oil is not enough and will take too long to develop http://www.eia.doe.gov/oiaf/servicerpt/ogp/results... Offshore oil will take years to develop http://www.eia.doe.gov/oiaf/aeo/otheranalysis/ongr... http://www.factcheck.org/elections-2008/mccains_po...
- peepers98Lv 41 decade ago
Mo' money !!!!!!!!!!! It's all about the money. Giving the oil companies a lease to drill in ANWR is no guarantee Americans will benefit from that oil. It will go to the highest bidder in the oil markets. That is what the oil industry is not telling America. Just another scam on the American people by our government & corporate America. Sad thing is soooo many people are falling for it.
- Ming Xu BowowowLv 41 decade ago
Because oil is sold on the open market.
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- avail_skillzLv 71 decade ago
doesn't matter, driling every square inch of this planet, and it isn't going to reduce oil prices until the value of the dollar goes up.
- AnonymousLv 71 decade ago
$800 billion in US treasury bonds owned by Japan if its even happening.
- Dennis PLv 71 decade ago
2 lousy little nukes in ww2 and here's what it costs us.
- 1 decade ago
- Anonymous1 decade ago
Hey cool looks like you got another scapegoat for your high energy prices.... grats.
- some guyLv 41 decade ago