A Bad Idea That Won’t Die
4th May 2008
I’ve written elsewhere, as have others, that GWBush&Co is still out there stumping to open ANWR for oil drilling. The whole idea is like one of those movie monsters that you can’t kill. It just keeps on coming back. There are no good reasons to drill in the arctic, but they are persistent, and their persistence could yet pay.
I worked for a few years as a door-to-door canvasser, and one of the campaigns I was involved in was the ANWR drilling issue. This was about five or six years ago, but the numbers haven’t changed all that much since.
- The USGS estimated roughly a six month supply of oil at current use rates. That’s based on an estimate of 3.2 billion barrels of recoverable oil over the life of the project and an annual usage in this country alone of about 7 billion barrels. Do the math.
- It was projected to take anywhere from 7 to 12 years for the first drop to come out of the pipe. 2002 consumption rates would likely be wildly inaccurate by then.
- There were not, nor are there now, any guarantees that the US would even see the oil. It could be sold by the big players in the project anywhere in the world. Wherever they could get the biggest profits.
- Oil prices wouldn’t come down noticeably. It was estimated that the price of a barrel of oil would drop about 30 to 50 cents with the addition of ANWR oil on the market. That was based on the figure of $27/barrel — even allowing for a per barrel price of ten times that in the next ten to fifteen years, that would only be about a 3 to 5 buck difference.
None of this even takes into account the potential environmental devastation this would unleash. This scheme to drill ANWR has been shot down numerous times already. It’s time to bury it for good. At a time when we need to be putting our efforts and our time and our money into alternatives to fossil fuels, we shouldn’t even be considering this foolishness anymore. To sacrifice much of the fragile arctic for a last-gasp effort for quick oil profits speaks poorly of us.
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