senate glamor girl lisa murkowski (r-ak) seems to think we can get a million barrels of oil a day and control our domestic energy supply by drilling in the arctic.
there are only a few problems with her logic.
suppose we do pump an extra 1M bbl a day. ok. so we import that much less, right? ok.
but the price stays high.
see, the oil nations produce as much as they can sell. if—ha!—demand drops they cut production. so venezuela—or whomever we buy less from—pumps less.
[i know, i know: we should live so long. but hypothetically, ya know?]
if you exclude strategic reserves, oil inventories don't gather a lot of dust. oil gets bought and sold. when sales drop, pumpers can put it in storage for a while, but if sales don't pick up soon, they won't pump as much.
that shores up the world market price, and alaskan oil sells at the world market price.
so why does a senator from alaska want to drill in the arctic? $$$$$$$$$$$$$$$$$$$$
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