F... gas prices

[Monkeydad]

Originally Posted by JoeRedskin

The estimates are that there are between 5-16 billion barrels in ANWR

Arctic National Wildlife Refuge, 1002 Area, Petroleum Assessment, 1998, Including Economic Analysis (it's an old survey, 1996 so with newer methods more recoverable oil may exist).

By using this resource in a measured way, the US could reduce its dependence on foreign oil by 5-10% for the next 12-15 years.

It would also IMMEDIATELY begin to lower prices because speaculators price the oil on the market by looking into the future. By opening up ANWR and/or any of our other oil deposits, it would help clear up some of the uncertainty about our future oil. Then, when we actually begun using it, a more substantial price drop.

But yet again, Congress (mostly Democrats) said no.