
Several media sites have recently wrote scathing reviews of Bush's plan to open up protected areas to drilling, while other media agencies wrote glowing reviews. Is it a political move void of all reason and common sense, or an enlightened plan to help Americans? President George W. Bush recently urged Congress to overturn a 26-year ban on offshore oil drilling in the U.S. and also open a part of the Arctic National Wildlife Refuge (ANWR) to petroleum exploration. The arguments for and against were polarized, but for the most part, they all made some fair points, which begs the questions: Is it a good idea or not? Will it really make gas cheaper or not?
But on the other hand, finding huge oil reserves in the US could send a message to the market that there's even more oil to go around, which could put speculation under control—at least for a little while longer.
That's a really interesting point.
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