Thursday, November 03, 2005

We can drill in ANWR

This ought to cause the greedheads in the Oil futures market to seize up -- even though actual production is years away. The Senate finally does the right thing after years of being held back by environmentalist wackos....

Few people know this, but the continental US has three times the oil than Saudi Arabia has and it's locked up in the oil sand in Wyoming (more on that here.) The main reason oil producers have not tapped into this is cost -- it's a whole lot cheaper pull the crude out in liquid form, then tanker it across the world than it is to turn oil sands in distillate. However, with crude futures hovering at the $60 a barrel level, this could make this form of oil cost effective. What does that mean? The US become a net producer of oil again. And all our oil-rich enemies (read "Iran") can no longer corner the market...

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