Oil find is partial solution

A huge oil find beneath the Gulf of Mexico could be the largest new domestic oil discovery since Alaska's Prudhoe Bay. The 300-square-mile region could hold up to 15 billion barrels of oil and natural gas, which would boost American oil reserves by 50 percent.

This is a highly significant find, considering the political instability of the foreign oil market. Its proximity to the United States is a considerable boon, and some analysts say the supply may be richer than early projections. The United States must determine a means to develop this oil in an environmentally sound manner.

But this is not the sole answer to U.S. energy woes. It does not preclude the need for Americans to conserve motor fuels. After all, this oil will not be available for at least five years. Plus, these wells will have to be dug deep, which means the costs and time of bringing it to market will be considerable. For instance, Chevron's well in the Gulf of Mexico, dubbed "Jack 2," was drilled about 5.3 miles below sea level.

While this is a consequential oil find, the fact remains that the United States is the world's largest oil consumer. America imports most of its oil. Even with this discovery, the nation's supply is paltry when compared with Saudi Arabia's reserves, which exceed 250 billion barrels.

There is, obviously, an ongoing need for Americans to conserve oil and natural gas. This discovery may buy some time, but it must be understood that world supplies of fossil fuels are finite. Automakers must continue to strive to build safe, fuel-efficient cars, create more hybrid vehicles and, finally, design automobile engines that render fossil fuels obsolete.

Until then, the oil industry and regulatory agencies must determine environmentally sensitive means to explore domestic reserves and to extract oil and natural gas.