The Republicans blame Democrats for the high cost of gasoline, saying that if we only drilled in ANWAR we’d have enough oil to bring prices down. There are only a few problems with that.
One: For 20 years Democrats have tried to change the demand side of the energy problem by increasing conservation through rebates for more efficient appliances, voluntary conservation and increased CAFÉ mileage standards for our autos only to be rebuffed by big business oriented Republicans.
Two: Estimates of oil reserves in ANWAR range from a low of ten month’s supply to a high of two years (for the US, not the world). For this we’re willing to destroy one of the few remaining pristine wilderness areas and spoil a unique habitat irrevocably?
Three: If we began exploiting ANWAR today it would be ten years before any of the oil actually hit the market and then virtually none of it would remain inside the United States, rather it would go on the open market and, like the rest of the North Slope, 70% of it would fuel China and Japan.
And here’s the kicker, folks!
Four: The major oil companies already have 68 million acres of federal land leased for oil production AND THEY AREN’T EXPLORING ANY OF IT! The House Committee on Natural Resources estimates that the oil and gas reserves under those 68 million acres would DOUBLE the US oil and gas production. So what makes any of us think that Big Petro Inc. would produce if we gave them ANWAR too? They like a tight demand market; it increases their profits so they can set more records for hoarding money. Did you know that EXXON earned $1,260 a second in 2007? That’s 24/7 seconds, not business day seconds.
Committee Chairman Nick J. Rahall (D-WV) has introduced legislation that says, effectively, use it or lose it. Either produce on the existing leases or forfeit them. That’s quite the reverse of Senator John McCain’s strategy of giving Big Petro another $12 billion in subsidies out of our taxes. Now let’s see what excuse the Republicans in Congress give for voting against H.R. 6251. Maybe you should give them a call and ask what they think about it? I’m sure Joe Barton (R TX, 817-543-1000 ) would be interested in sharing his thoughts. He only got a $ Million or two from the energy sector for the last election.
Andy Hailey