Let's suppose that a lot of oil was found by drilling in ANWAR. That might help our balance of payments problem, but it's not clear to me that it would reduce the price of gas and other petroleum products to the individual user. Since oil is a fungible commodity, it has a price that is determined by world markets. Oil companies drilling in ANWAR are not going to just give away the oil to the U.S. They are going to sell it to the highest bidder.
Unless enough oil was found to significantly increase world supplies, it's not clear to me that the price of gas would drop very much if we had ANWAR oil.
Unless enough oil was found to significantly increase world supplies, it's not clear to me that the price of gas would drop very much if we had ANWAR oil.
From my understanding, ANWAR would make the mid-east look like second fiddle. Rumors about it being so abundant that in certain areas oil literally seeps out of the ground, making wildlife a laughable note at best.