Published Monday, July 28, 2008 by Robert P. Murphy
There are many strong arguments for opening up ANWR but here is the strongest: because of its impact on oil prices in the future, relaxing federal prohibitions would cause current oil producers to change their pumping decisions right now. Even though the additional barrels from ANWR wouldn't physically hit the market for years, current knowledge of this fact will alter current behavior, leading to rapid relief at the pump.
(Original Text)
ANWR Drilling Would Provide Quick Relief (1.74 MB)