Sunday, June 29, 2008

How Much Would We Save From Drilling in ANWR?

$0.02 a gallon

From Andrew Sullivan...

The economic advantage of drilling in ANWR:

The median case suggests the effect on gasoline prices in 2025 will be a mere $0.02 a gallon. The immediate effect will be zero as we’ll have to wait a decade to see any oil from ANWR. If this is Bush’s and McCain’s answer to today’s high gasoline prices, it is no answer at all.

Add that to the $0.08 a gallon we would save by increasing offshore drilling and the Republican plan to lower gas prices would save a whopping $0.10 a gallon.

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