ANWR - Uncertain situation in Venezuela and war in iraq...

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Uncertain situation in Venezuela and war in iraq merit further expansion of oil supply. US uses 7 billion barrels per year. Government estimates say that 16 billion barrels could come out of Alaska. Area to be drilled is only 2,000 acres out of the 19 million acre reserve. The same arguments about the environment were used in debate over the construction of the Prudhoe Bay pipeline, that animal herds would be destroyed. They learned to live around it. Imported oil is getting too expensive, and our own production is declining, for instance, the North Slope oil field has been reduced by over ½. Gas prices will drop in US due to restrictions placed on exports of oil No oil extracted from Alaska can be exported. This ensures that Americans will benefit from the cheap oil. The government’s budget is already under stress, $39 billion of stress. Programs like Medicaid, student loans, and farm subsidies are all in jeopardy due to cutbacks. However, the leasing fees from energy companies in the ANWR, royalties, and taxes would
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This note was uploaded on 04/07/2008 for the course ESS 101 taught by Professor Swanson during the Fall '05 term at University of Washington.

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