Word: anwr
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...Bush faces a fight in Congress to open ANWR. One spill in Alaska could forever tar the Administration
...Such as drilling for oil and natural gas in the Alaska National Wildlife Refuge. Though Bush added a typically combative wrinkle to that debate Thursday by tying $1.2 billion in funding for alternative and renewable energy sources to royalties from ANWR drilling, congressional handicappers still say Alaska drilling is a non-starter. Speaker of the House Dennis Hastert telegraphed as much Wednesday when he said the Bush would have to make a "much better case" than they have been...
...That's because the plan is "balanced." That word again. So guess what? Get ready for a summer-long haggle in both houses of Congress over this new oil-well or that, over drilling in the ANWR, over every last trade-off between supply, demand and the environment, and eventually we'll have an energy policy that may just be "balanced" indeed...
However, McElligott fails to draw a distinction between technically recoverable oil (the amount of oil that is contained within the ANWR field) and economically recoverable oil (the amount that can actually be obtained, given recovery costs and oil prices). When this distinction is taken into account, the amount of oil we can expect to recover in exchange for opening ANWR is significantly less than McElligott tells...
...fact, opening ANWR will not significantly help our energy concerns, for our crisis is one of demand, not supply. If we truly wanted to lower oil prices and reduce foreign dependence, a better strategy would be to increase conservation efforts; improving the fuel efficiency of our gas-guzzling SUVs would be a good start...