The Geek News Central podcast is relentlessly non-political. Nevertheless, in Friday’s show, Todd asked his listeners to let him know what they think about opening up ANWR and the continental shelf for oil exploration.
So I did:
You asked for comments about opening up ANWR and the continental shelf for oil exploration.
According to the discussion on this episode of the Diane Rehm Show, opening these areas would have little or no effect on current or future oil prices or on U. S. oil reserves.
The discussion indicated that one of the reasons for pressure to open these areas from the oil companies, who already have oil leases for areas that they have not yet started to explore or use, is the oil companies’ stock prices. One of the factors that affects their stock prices is how many reserves they have. In short, their interest may not be primarily oil supplies, so much as Wall Street supplies.
Opening up these areas would do little or nothing to help the everyday person and lots to help the rich get richer with paper profits.
The policy that got us into this mess is ably dissected in this article from The Nation.