We cannot drill our way out of this oil crisis. Since 2000, oil companies working in the U.S. have doubled the number of wells drilled per year.
Although increased drilling has added new oil to the nation's supply, it has not done so fast enough to offset the terminal decline of existing fields.
We are going to have to import more of our oil. Period.
MonteQuest
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Environment Minister Sigmar Gabriel told the lower house of parliament, the Bundestag, that the time had come to act. "We have all witnessed the dangers of climate change in the last few months. We only saw winter in the calendar in Germany," he said, alluding to last year's unusually mild winter.
