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
Blood test may detect Alzheimer's early (<1 min)
Cultured pearls produced from queen conch (8 min)
Blount reinstated by Oregon (29 min)
Futuristic wireless systems being built (31 min)
Murdoch may have Google block searches (36 min)
Iginla tops NHL's stars of the week (36 min)
Pinnacle CEO quits as probe begins (40 min)
fark
It's getting so you can't even throw a dead rabbit around here anymore
Vandal causes oil spill into Nova Scotia river. Not a slick move, but oil bet he thought it was...
It's the "still not quite Thanksgiving but there's not much to talk about" edition of the Fark Betting...
Let there be light -- And when you're done reading, you can eat this bacon lampshade
Photoshop this not so real moon landing
Computer viruses are now downloading child porn to your computer then calling the Feds, for the...