ANWAR
Thursday, June 12th, 2008GOP claim about Chinese oil drilling off Cuba is untrue
Republicans misrepresent the facts in order to achieve their political objective. What a shock.
This is one of the tactics that they are using to try and convince the American public to support opening up ANWAR for oil drilling. They state that access to ANWAR would dramatically drive down the cost of a gallon of gasoline.
Reality check: It’s estimated that ANWAR could add about one million of barrels of oil per day to the market. IF this amount is actually accessible and IF we could actually bring this oil to market immediately (instead of 20 years from now) and IF we could somehow keep this oil off the global market and dedicate it only for US consumption (we can’t) it would represent less than 5% of USA daily consumption of oil. IF we could reduce the cost of gas by that entire 5% (which we couldn’t), with gas at $4 per gallon, we are talking about a per gallon reduction of just $0.20. So it would be $121.60 to fill up the Donimator’s Hummer instead of $128.00, a savings of $6.40 per fill up. Republicans like to talk about the benefit to the poor of reducing the cost of gas. A more reasonable vehicle with a 13 gallon gas tank would see a per fill reduction of just $2.60. Never say that the Republicans don’t want to help out the poor!
Is it all worth it?
It is if you are Exxon I guess. The benefit to me? More questionable.
I stopped by the track this morning and took a photo.
