Will drilling In Alaska really lower Prices?
No, you are on the right track. The amount of oil in ANWAR is actually not that big. It would be profitable for oil companies but it wouldn’t do much for prices. Demand is still increasing world wide. I’d may help to cut our dependence on foreign sources (for about 6 months). The only thing that will lower the price of oil is for supply to vastly outstrip demand. OPEC knows that and that is why they aren’t increasing production. (Same concept applies to Nintendo and the Wii) Refineries will help ease the supply end but they are so expensive an take so long to build, (not to mention who wants one in their backyard) that unless they built many refineries quickly (and they won’t) it wouldn’t help much either. (Can you imagine the creative financing and time it takes for a multi-billion dollar investment like a refinery to become profitable?) If we all go green and have alternative fuel sources (not corn-ethanol) and stop using oil then the prices will come down, but that it still a long w
