You Know the Drill

MGR takes issue with Congressman Sali’s stance in favor of more drilling arguing:

His latest solution: open up more areas to drilling. That’s despite studies showing that it would take decades before exploration and drilling in the Continental Shelf and the Arctic National Wildlife Refuge would provide even a few pennies a gallon in lower prices at the pump. An executive for the research firm Global Insight told Time that the move “would not have an impact.”

First of all, there’s a little disagreement here, because actually the Department of Energy indicates a 75 cent a gallon decrease by 2012.  At its peak, they estimate ANWR would generate 750,000 barrels of oil, or about 3/4 of what Chuck Schumer wants the Saudis to increase production. Yes, it’s true we would not see the full benefits of changing our drilling policy until much later, but had we allowed drilling in ANWR in the late 1990s and allowed it offshore throughout, we wouldn’t be in this mess, or at least not as bad to begin with.

As an alternative MGR suggests the solution is simply increase CAFE standards. The problem is, according to GM, that would lead to a $6,000 increase in the price of vehicles. Do the math. It takes years, if ever, for a car buyer to recoup a $6,000 increase in the car’s price. This is why Congressman Sali opposed this legislation.

We have to take a look at a lot of things. Long-term will need to develop alternative technologies. In the meantime, though, it makes no sense not to work to access every available fuel we can. Yes, it may take a decade to start due to red tape and such, but in a decade, I’ll guarantee you, we’ll still need the oil.