Monday, July 21, 2008

Energy fix in Alaska

Either we're sitting on a potential cure for high oil prices or we're wasting our time.

Those seem to be the two schools of thought emerging as politicians call for expanded drilling in Alaska.

It's no surprise that with oil prices at $130 a barrel, lawmakers facing angry voters want to be seen as tackling the problem head-on.

And while it's hard to deny that the jackpot of all untapped domestic oil lies just north of the Arctic Circle, in Alaska's Arctic National Wildlife Refuge, it's tougher to say whether or not extracting this energy will benefit our nation in the long run.

Republicans in Congress - along with President Bush - want vast sections of the country currently off-limits to drilling opened, including the Arctic Refuge.

It's not likely the refuge will be drilled any time soon - congressional watchers say proponents don't have the votes. Plus, both front-runners in the presidential race - John McCain and Barack Obama - are against it. But with oil supplies tight and worldwide demand rising, this issue emerges whenever politicians talk energy.

So just what would be gained if the refuge were drilled?