Just last month, President Joe Biden took a major swipe at America’s energy independence when he declared nearly a million acres of uranium-rich land outside of Grand Canyon National Park off limits to energy development. Turns out that was just the setup jab. The knockout punch is on its way.
Then there will be claims about how stopping this oil development is necessary to fight global warming. The truth is that even if one were to take the climate alarmist claims as fact, the amount of carbon dioxide saved by not using this oil would be almost zero.
First, just because Americans don’t have access to this domestic source of oil doesn’t mean that they will not still demand oil. It will just likely have to come from somewhere else and be more expensive. The CO2 is still going to be released. Even if not producing the oil in ANWR somehow led to oil not being used in the aggregate, the amount of CO2 saved would be meaningless in global warming terms. The Heritage Foundation’s chief statistician, Kevin Dayaratna, has investigated exactly this point using the same models government agencies use.that eliminating all U.S. greenhouse gas emissions would reduce temperatures by less than 0.2 degrees Celsius by the year 2100.
That said, taking these resources offline will have a meaningful economic impact—a very harmful one—in Alaska and in the broader United States. First, gas and oil development is a critical sector for Alaska’s economic health. The industry supports nearly 50,000 Alaskan jobs, accounted for, and generally provides nearly 90% of the Alaskan government’s general fund, putting over $180 billion in the state’s coffers since Alaska became a state in 1959.
Opening ANWR would not only create more jobs and more revenue for Alaskans but also have a real impact on the rest of the country—with some estimates suggesting up toBut losing out on tens of thousands of jobs, billions in economic activity, and lower prices at the pump is not why this decision could be a knockout punch for American families and businesses. It is because of the chilling effect it would have on the American energy industry.
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