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I didn't want to derail the gas price thread with this but wanted to respond to what Old Glory said about drilling in ANWAR.

First, if we started looking today, it would be 12 years before drilling in ANWAR would be at full production. If however you could turn on a tap and have the entire thing running at 100% tomorrow, the difference would be just 4% of US demand.

That means instead of importing 70% of our oil we'd be importing 66%.

Personally, I think a nature reserve should be reserved for nature.

On the other hand, I have no problems with drilling in the gulf of mexico or anywhere else where we have not established such a nature reserve... go for it. Smile
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and off of the coast of The Peoples Republic of California and the new reserves found in the Dakotas and since the Chinese/Cubans are drilling 45 miles off the coast of Cuba off of Florida. More nuke plants.
I would also think if we could take all of the BS in Washington, D.C. and burn it we could power the U.S. for a century
In a margin business where one half of one percent of over or under supply can cause havoc on the oil price, drilling in the ANWR would make a heck of difference both really and symbolically.

I also find it interesting that you covet the northern tundra (which most experts believe would not be adversely effected) but are willing to see more drilling in the Gulf.

I personally would be OK with it all being opened up.
I find it strange that people talk all the time about the supply and demand issue of oil, but when's the last time there was a supply problem?

I can think of one time in the past 20 years where there was actually a gas shortage (where the pumps didn't have gas) and that was a pipeline issue, not a "oh my gosh there is not enough oil!" issue.
I am no expert so I may be all wrong but this is what I believe to be true...OPEC dictates most of the supply and therefore also dictates the price. They will provide whatever supply we are willing to pay for at their dictated price. Alternative sources of supply whether it be gas or alternatives, will provide alternative places to buy which will create competition which will create lower prices.
in reference to the supply and demand issue; it's not that their is a "shortage", it's that because other nations such as India and China (both will near or over 1 billion citizens) are now industrializing and with that comes not only the usage of oil based products, but also brings more prosperity to those citizens and their needs and wants for items that either use gas or are petroleum based. Because of all of this we have more companies and more people buying the oil and because of the market increase for demand and the supply not increasing at the same rate, we must compete for the oil and that drives up prices; especially commodity trades. God Bless Capitalism!!!

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