Should We Drill in the Arctic?

Essay by LiLvIeToXb0i4o8High School, 12th gradeA, March 2004

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Should the United States drill for oil in the Arctic? As most people should have known, the oil and the gas prices had rise since the attacked of the terrorist on 9/11/01. Ever since the evolution of machine, the technology of machine for drilling for oils has advance very much over the past twenty years. With the advance of technology, drilling for oil had been much simpler for the people and much more efficient in terms of oil collecting. The Arctic National Wildlife Refuge, an enormous piece of land located in the Northeast of Alaska, is believe to contains about a billions of barrels of oil. If the United States are willing to drill in the ANWR, this would lead to trade deficit because foreign policy would change and we can't do anything about it, just "last year our oil trade deficit was $51 billion" (1). The "area of ANWR can potentially produce 1.5

million barrels of oil per day for at least a quarter of a century, therefore increasing domestic production by almost 25%" (2). Allowing drilling in the ANWR would also reduce the deficit by about "$14 billion per year" (2). Furthermore, the Congressional Budget Office estimates that federal revenues from lease sales would be "$1.3 billion over the next seven years" (3), this would help cut the budget deficit. Not only would the government gain profit out of it, but the Alaskan would also. If the Alaskan are willing to split the profit of the oil drill, they would gain at an estimated price of "$2.6 billion evenly with the federal government" (4). Not only will the Alaskans and the federal benefit from this oil production, but also an "estimated 222,000 to 732,000 jobs will be created throughout the country" (2). The jobs would be manufacturers,