this post was submitted on 18 Feb 2024
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I was against drilling until Russia invaded Ukraine. Russia produces 10% of the global oil supply, so we can't really sanction them without impacting the global economy. We've been draining our strategic petroleum reserves since the war started, and while we might have enough saved up to get through the current crisis, I wouldn't blame the white house for wanting to increase domestic supply as a contingency - especially if this turns out to be just the first domino in a global conflict.
A 10% decline in global oil consumption would be awesome. However to be realistic Russia consumes a lot of oil itself and sanctions do not cut out all oil exports. They certainly did not for Iran and Venezuela. Funnily enough 10% of oil consumption are US cars. So a ban of combustion engine car sales in the US would have solved that as well. With the EU and other allies joining, that would even be fast enough to actually beat new oil drilling in the US.