Thursday, June 19, 2008

More Drilling Doesn't Mean Cheaper Gasoline

Will More Drilling Mean Cheaper Gas?
But there's a flaw in that logic: even if tomorrow we opened up every square mile of the outer Continental Shelf to offshore rigs, even if we drilled the entire state of Alaska and pulled new refineries out of thin air, the impact on gas prices would be minimal and delayed at best. A 2004 study by the government's Energy Information Administration (EIA) found that drilling in ANWR would trim the price of gas by 3.5 cents a gallon by 2027.
Is 4 pennies a gallon worth the cost and environmental damage of off-shore drilling? Uh, NO. Duh.