ANWR oil would have small price impact

Published: May 23, 2008 at 5:31 PM

ANCHORAGE, Alaska, May 23 (UPI) -- Oil reserves in the Alaska's Arctic National Wildlife Refuge would have a minor impact on the price of crude oil, a government report said.

The U.S. Department of Energy said reserves from the area, if harvested, would drop the price of crude oil -- currently at $131 per barrel -- by about 75 cents per barrel.

But tapping the ANWR reserves would have benefits, such as allowing the trans-Alaska pipeline to remain open, the Anchorage Daily News reported Friday.

Alaskan Republicans accepted the report with different spins.

The report was "yet another indicator that opening ANWR is important to this country," Sen. Lisa Murkowski said. Sen. Ted Stevens, R-Alaska, said ANWR production was "not projected to have a large impact."

House member Don Young introduced a bill Thursday to allow drilling at the refuge a week after the Senate said no to an energy bill that included opening ANWR to development, the News reported.

© 2008 United Press International, Inc. All Rights Reserved.
Order reprints



Additional News Stories
Alleged Visine theft leads to scuffle (4 min)
UPI NewsTrack Entertainment News (7 min)
Thanksgiving parade goes off-Broadway (7 min)
Police: Burglars targeted sleeping nuns (13 min)
Soderling first through to ATP semifinals (21 min)
Three players make PSAs with president (25 min)
Ricky Williams named top AFC player (26 min)
fark
News media reports that Obama has pardoned his first turkey. AIG and GM beg to differ
It's the Fark Annual Thanksgiving Eve Draw A Hand Turkey For Mom Contest. Past losers include Jerry...
Man smokes pack of cigarettes then hangs himself. See, those things will kill you
Students angry over dress code stage a protest, learn the school can in fact suspend all 1,500 of...
Georgia Supreme Court reverses theft conviction, rules a riding lawn mower isn't a "motor vehicle."...
Indiana schools face an epidemic of "ball tapping." You thought of a better headline, but were too...