...oh and will drilling ANWR solve the problem? You be the judge:
The thing that the promoters of these "drill more!" arguments don't seem to realize (or conveniently hide) is that it will not lower prices unless it has a significant impact on world-wide demand. If more is drilled, even if those in the US think its *their oil* and refuse to pay more (or rather drop demand locally) the oil companies will simply export it (or rather simply import less), causing the supply in the US to drop, thus causing prices to equilibrilize with the world price.
That's what they mean when they say that oil is a "
fungible commodity"....its the world-wide market that determines the price, not the amount that's drilled here in the good 'ol USofA...
Although that will help our balance of trade deficit, thus strengthening the dollar and avoiding *inflationary* pressure on oil prices, that still doesn't get "real" oil prices to decline.
Britain is a world by itself; and we will nothing pay for wearing our own noses,
Buffy
