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America's Crude Reality: Beyond the Gulf Disaster

About the Show

In the aftermath of the disaster in the Gulf, America's Crude Reality will explore the search for safe drilling options & new innovations for crude exploration.

CNBC's Melissa Francis hosts this one hour program which will include a frank conversation with an all star panel of experts including Ian MacDonald, professor of Biological Oceanography at Florida State University; Tom Petrie, Bank of America Merrill Lynch Vice Chairman of its Investment Bank; C.J. Warner, Sapphire Energy President and John Hofmeister, Former President & CEO of U.S. Operations for Shell Oil. Melissa will also speak with BP Capital CEO and founder of Citizens for Affordable Energy T. Boone Pickens.

In the push to drill, drill, drill did the oil industry, government and the public delude themselves into believing that deepwater drilling is safer than it truly is? That's they question CNBC's Senior Correspondent Scott Cohn asks as he explores how we got into this position in the first place. Scott will also explore if there is too much risk built into the industry system and take a deep look into the response plans and if even now do they still fall short?

CNBC Power Lunch co-anchor Michelle Caruso-Cabrera will bring viewers a television exclusive as she travels to the tundra of Alberta Canada to visit Devon Energy's oil sands project. It is there Devon is producing 35 thousand barrels of oil per day out of the ground and hopes to be producing an additional 35 thousand barrels by next year. Michelle will explore the question, "Are oil sands a viable alternative to offshore drilling."

The federal government spends an estimated $5 billion a year in clean energy research, development and deployment. Thanks to the recent creation of the Advanced Research Projects Agency-Energy (ARPA-E), a research arm of the US Department of Energy, funding for energy innovation is getting a boost. Senior Energy Correspondent Sharon Epperson reports on this government research program and how it could soon be fueling America's energy needs

Web Extras

  • Oil Sands   Thursday, 24 Jun 2010 | 12:04 AM ET
    Oil Sands

    CNBC's Michelle Caruso-Cabrera talks to Cal Watson, Devon Energy's manager of thermal heavy oil about alternative ways to obtain it.

  • Oil Sands Drilling vs. Offshore Drilling   Thursday, 24 Jun 2010 | 12:05 AM ET
    Oil Sands Drilling vs. Offshore Drilling

    CNBC's Michelle Caruso Cabrera talks to Cal Watson, Devon Energy's Manager of Thermal Heavy Oil about the differences between drilling in the oil sands and drilling offshore.

  • Energy Innovation Gets Necessary Boost   Friday, 2 Jul 2010 | 12:07 AM ET
    Energy Innovation Gets Necessary Boost

    The creation of the Advanced Research Projects Agency-Energy, a research arm of the US Department of Energy, is giving funding for energy innovation a boost. Senior Energy Correspondent Sharon Epperson reports on this government research program and how it could soon be fueling America'€™s energy needs.

  • Canadian Oil Sands Will Become Top US Crude Source
    By: Justin Solomon|CNBC Producer
    Monday, 28 Jun 2010 | 2:21 PM ET
    Alberta Oil Sands

    Canada has proven oil reserves of more than 170 billion barrels—second only to Saudi Arabia. Much of that crude lies beneath the tundra of Alberta in a thick oil, sand and water mixture called bitumen, more commonly called oil sand.

  • Deepwater Oil Risks Greater Than Industry Admitted Wednesday, 30 Jun 2010 | 10:58 AM ET
    Smoke rises from a controlled burn May 19, 2010, in the Gulf of Mexico.

    More than two months after the Deepwater Horizon sank, it is now clear the energy industry doesn't know exactly how to stop a blowout in deepwater or how to clean up a massive spill.

  • New Government Program Develops Future Fuels Tuesday, 29 Jun 2010 | 10:08 AM ET

    New financing from the federal government may help biotech companies develop fuels of the future, helping reduce America's dependence on oil.

  • MacDonald: Damage from Gulf Disaster Will Last Lifetime
    By: Ian R. MacDonald, Ph.D.
    Wednesday, 30 Jun 2010 | 9:47 AM ET
    Cody Fonseca (left) and his brother Chris sort through blue crab caught in the Barataria-Terrebonne National Estuary at the La Blue Crab Company on May 3, 2010 in Larose, Louisiana,

    Despite all the skimmers and sweepers, most of the oil leaking into the Gulf of Mexico sinks to the bottom or washes up on the shore and then sinks down in shallow layers below the sand, profoundly restructuring the ecosystem. The change cannot be undone in a lifetime.

Contact America's Crude Reality: Beyond the Gulf Disaster

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