This ends the hope of drilling in Alaska for a decade or more. Whomever wins in November they’ve all gone on record as being against drilling.
The caribou can rest easy on their ice, and Santa and his elves will keep on making toys for all the good little girls and boys. Only Santa, since he has those well rested reindeer, won’t have to pay $5 a gallon to drive his red sleigh.
Most certainly. However, this is not necessarily a bad thing. If we keep a stash of oil, then when when we really need it in a real national emergency, it will be there. Let's soak the Muslims dry first! There is a game going on between us and China. Whoever runs out of oil first loses. And that loss will probably be the last World War in a very LONG time.
But it is important to remember that it would take several years of work at ANWR before the first drops of oil are extracted.
When the Middle East starts to run dry on oil, it will be interesting to see what will happen, because oil is all they have and pretty much the only reason why anyone cares about the Middle East. Especially Saudi Arabia. So I wonder if they will impose severe production restrictions on the downside. Because, after it's gone, it's back to the Middle Ages. The only things Saudi Arabia has to offer the world is oil, Mecca and Medina. That's it.