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How about this: instead of just accepting this on your say-so, let's let the market decide. If you are right that we "don't need" this oil, then it won't pay off for anyone to go drill there. Thus no one will go drill there, and the problem is solved.

The petroleum industry has made it clear that prices are too low. Supply is high, so prices are low and domestic oil is not economical to drill. So do they shut down? No. Instead they ask for a subsidy, royalty relief.

The Independent Petroleum Association of America urged Washington to open up more areas for exploration and provide royalty relief to producers at times of low oil and gas prices.
According to U.S. government estimates, undeveloped domestic oil resources are twice as big as developed resources while undeveloped domestic gas resources are three times as big as developed resources, he said
He also urged the government to introduce a sliding scale which would cut royalty rates on oil and gas production when prices came under pressure.
The IPAA recommends cutting royalty rates to 75 percent of normal levels when oil prices fell to $12-18 a barrel or gas prices fell to $2.00-2.50 per thousand cubic feet. Royalties would fall to 50 percent of normal levels for oil prices $10-12 and gas prices of $1.50-$2.00.
ANWR.ORG

The pro-drilling ANWR site is posting articles saying that oil is too cheap. There is the answer to your question.

The petroleum industry has made it clear that prices are too low. Supply is high, so prices are low and domestic oil is not economical to drill.

THEN NO ONE WILL DRILL, AND IT'S A MOOT POINT!

THEN. NO. ONE. WILL. DRILL. AND. IT'S. A. MOOT. POINT.

How many times am I going to have to say this? Do I have to say it slower? In other languages? What exactly is your problem? You KEEP repeating this "prices too low" comment and STILL don't seem to realize that IF WHAT YOU SAY IS TRUE, THEN NO ONE WILL DRILL AND IT'S A MOOT POINT.

Sheesh.

Instead they ask for a subsidy, royalty relief.

Be honest. Royalty relief is not exactly the same as a subsidy, now is it? What are "royalties"?

There is the answer to your question.

That does not answer me at all, because the economic issue I am raising is a much different one, on a much more basic level: IF PRICES ARE REALLY TOO LOW, THEN NO ONE WILL DRILL AND IT'S A MOOT POINT.

Either you are capable of comprehending this or you are not. Let me know.

Moose care. :-)

Moose like knowing there is oil underneath the ground they are walking on?

I wonder if they also like the warmth from the pipelines, like caribou. Consult the moose and let me know.

Let's use an analogy. Suppose that the US had some nice farmland but the federal government wouldn't let anyone farm there. Meanwhile, the US was required to buy a significant portion of its food from...say...Ukraine (you know, cuz it's the world's "breadbasket"..). As a result the US kowtows to Ukrainian warlords and US soldiers protect Ukrainian high rollers on their trips to see prostitutes and whatnot. A tiny neighboring country to Ukraine is invaded, and the US goes to war against the invader. Ukraine funds, and Ukrainian youths become, terrorists who kill Americans, but the US basically bites its tongue. And so forth.

All this time there is perfectly good farmland right here in the US but the government won't let anyone farm there. Why? Well, crtain critters are mentioned, odes are composed to "pristine land", Birkenstock wearing coffee shop denizens who never leave the big city gaze longingly at postcards with photographs of this land reproduced on them as they sip their espressos, etc.

Now someone suggests letting people farm this land. And you come along saying, "no way, food prices are too low. Let's hold out for higher food prices! That's just good business sense!"

I think you're missing the point. Who will be paying these higher prices you crave so much? Prices which, by the way, are paid not only in money but in a loss of political freedom, and in blood as well.

We should encourage our government to use semi-monopolistic protectionist practices to squeeze every last penny from... ourselves?

Heck, why stop there. Why not have the federal government shut down any and all domestic energy production whatsoever, so that the prices go sky high and we're even more dependent on the whims of foreign warlords. That'll show...uh, us!