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Good luck with that; I don’t think too many people here are listening. It’s self-evident that ANWR oil production, under the best scenario, would take years to reach production capacity at a level to affect per barrel prices. It is not, in any way, a solution to current oil prices which are almost certain to crash by that time since the existing situation shows all the signs of a speculative bubble. In two years, we will be back to $60 per barrel or less—barring a major land war in Iran (at which point, the cost of oil will be the least of our worries).

In fact, drilling now would simply give OPEC another excuse to ration production and offset any gains. At current rates, the Arab states and Iran will reach their peak in about 30 years and will rapidly decline thereafter, while we will still have the (allegedly) vast reserves in ANWR (not to mention having the largest shale oil potential in the world, if the technology catches up).

Having the potential for domestic production is certainly necessary for national and economic security, but it is not a good idea to start drilling now, simply for the purpose of bringing down the price of gasoline in the short term.

It’s self-evident that ANWR oil production, under the best scenario, would take years to reach production capacity at a level to affect per barrel prices.

Yes, for several decades now the excuse has been it will take about 10 years to get significant production. It was the excuse President Clinton used when he vetoed it about 13 years ago. I guess we are rather slow learners.

almost certain to crash .... In two years, we will be back to $60 per barrel or less

Are you betting a lot of your own money on that? Future prices two years out are about $120.

http://www.nymex.com/lsco_fut_condet.aspx?product=CL&month=June&cmonth=M&year=10&currPrev=C

drilling now would simply give OPEC another excuse to ration production and offset any gains

Less money to OPEC and more invested in the US still sounds good to me.

At current rates, the Arab states and Iran will reach their peak in about 30 years

You need to look at historical production rates and proved reserves. Sending them our money continues to fund them to find new reserves.

but it is not a good idea to start drilling now

What criteria would you use to allow exploration given that it will take 10 years to bring it on line?