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Monday, July 28, 2008

ANWR Drilling Would Provide Quick Relief

People have been ridiculing Bush and McCain for the "psychological" benefits of offshore drilling, perhaps correctly. But I explain in this piece that opening up more US federal lands to drilling would provide tangible relief right away, because producers with excess capacity would pump more in the present (expecting lower future prices).

3 comments:

  1. I haven't even read the piece yet, but I could not agree more.

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  2. Bob, I agree, and discussed how to go about it here: http://mises.org/Community/blogs/tokyotom/archive/2008/07/16/breaking-the-senseless-impasse-on-anwr-and-ocs-exploration-and-development-a-tax-and-rebate-proposal.aspx.

    A deal on OCS seems easier to do than ANWR, because all that is needed to get the coastal states to agree is greater revenue-sharing with the states.

    An ANWR deal should happen just out of fairness to the Inuit who own land that is now bottled up in ANWR. If they get fee simple, then they could start drilling immediately.

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