How much would opening up ANWR to oil exploration save hard-working American families? Basically nothing. Nothing. Nothing. But it would make some moola for someone or other, I forget who. Woops, forgive me, I just had a McCain moment. According to the well-known liberal organization, the U.S. Congress Joint Economic Committee, in a study commissioned by that even better-known liberal Ted Stevens (R-Paleozoic), gas will go down by an entire penny/gallon.
From the report:
The recent run-up in the price of crude oil has prompted new calls for the Federal government to increase its petroleum production by allowing exploration and drilling in the Arctic National Wildlife Refuge (ANWR) along the northern coast of Alaska. While there is a strong incentive to provide much needed relief to American families who are currently struggling with high gasoline prices, analysis of ANWR’s projected contribution to crude oil markets suggests that relief will be neither substantial nor timely in its effect. Based on Energy Information Administration (EIA) projections of the effect of ANWR on crude oil prices, we estimate that opening up ANWR will reduce gasoline prices by just one cent, starting in 2018.
Both pictures from ANWR, licenced under Wikipedia Creative Commons Licenses.
Much Love to TBogg for the links. All my best to Satchmo.