Timothy Stolz

Will Drilling Offshore Affect World Oil Prices?

The economic impact of offshore drilling is simply too far away in years to venture an educated guess. It's not like one day the "oil gate" will open and all of this offshore oil will come on line. The process will take time and it is likely that the crude produced will be "absorbed" into the world market without much of an impact whatever.
For example, by the time year 2025 oil products from offshore production platforms reach the market, it is very likely the consumer won't notice any price difference at the pump. Whether supply/demand factors will make that happen or be it via manipulation by the oil producers, the outcome will remain the same. Take your pick as per your politics.