Final answer:
The statement about the majority of domestic oil supply coming from offshore drilling is false. Oil is obtained from various sources including onshore drilling, and the rate of new offshore oil discoveries has not kept pace with global consumption.
Step-by-step explanation:
The false answer is correct concerning the statement that the majority of our domestic oil supply is obtained from conventional offshore drilling. While offshore drilling contributes to oil production, it is not the sole or dominant source. Oil extraction involves different methods such as onshore and offshore drilling, and other resources like tar sands are also considered for oil exploration.
Offshore drilling rigs can now operate in water as deep as two miles, and they require stringent regulations to prevent environmental damage. However, land-based extraction of oil is still prevalent and less costly in comparison. Significant oil discoveries, like the one off the coast of Norway, and other factors like economic slowdowns or innovations in renewable energy can impact oil supplies and demand. Given the finite nature of fossil fuels and the declining rate of new oil discoveries compared to global consumption, there is a pressing need to manage and explore energy resources judiciously.