In May of 2008 the Energy Information Administration of the U.S. Department of Energy released the following report about oil drilling in the Arctic National Wildlife Refuge (ANWR):
"The opening of the ANWR 1002 Area to oil and natural gas development is projected to increase domestic crude oil production starting in 2018. In the mean ANWR oil resource case, additional oil production resulting from the opening of ANWR reaches 780,000 barrels per day in 2027 and then declines to 710,000 barrels per day in 2030. In the low and high ANWR oil resource cases, additional oil production resulting from the opening of ANWR peaks in 2028 at 510,000 and 1.45 million barrels per day, respectively. Between 2018 and 2030, cumulative additional oil production is 2.6 billion barrels for the mean oil resource case, while the low and high resource cases project a cumulative additional oil production of 1.9 and 4.3 billion barrels, respectively."
The report goes on to state:
"Additional oil production resulting from the opening of ANWR would be only a small portion of total world oil production, and would likely be offset in part by somewhat lower production outside the United States. The opening of ANWR is projected to have its largest oil price reduction impacts as follows: a reduction in low-sulfur, light crude oil prices of $0.41 per barrel (2006 dollars) in 2026 for the low oil resource case, $0.75 per barrel in 2025 for the mean oil resource case, and $1.44 per barrel in 2027 for the high oil resource case, relative to the reference case."
The Bottom Line: Since there are 42 gallons of gasoline in a barrel of oil, opening up the Arctic National Wildlife Refuges to oil rigs, pipelines, roads, and year-round settlement would mean an estimated benefit to you of less than 2 cents a gallon in 2025.
And what would be lost for that temporary 2-cent a gallon benefit?Nothing less than America's Serengeti.
Caribou herd, Arctic National Wildlife Refuge -- America's Serengeti.
Atigun Canyon, the Brooks Range - Arctic National Wildlife Refuge
Musk Ox - Arctic National Wildlife Refuge
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