[FoRK] High Gas Prices and ANWR
Thu Sep 1 11:13:24 PDT 2005
The drilling calls begin ... surely now that Katrina has done its damage,
the volume will increase on the calls to drill in ANWR.
With the recent spike in gas prices, the government has chosen not to pursue
stupid policies of the past. So, we haven't seen shortages, or long lines or
gasoline station fights and riots. Why? Price has been allowed to perform
its valuable function -- that of equating demand with supply.
Our true supply problem is of our own making. Much oil lies below the
20-million-acre Arctic National Wildlife Refuge (ANWR). The land proposed
for oil drilling is less than 2,000 acres, less than one-half of 1 percent
of ANWR. The U.S. Geological Survey estimates there are about 10 billion
barrels of recoverable oil in ANWR. But environmentalists' hold on Congress
has prevented us from drilling for it. They also restricted drilling in the
Gulf of Mexico and off California.
jeffrey kay | jeff at k2.com | aim jkayk2
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