Interestingly, not much said on the subject from oil companies, but plenty of hot air from politicians and media talking-heads; that makes me very suspicious. What I have heard is that the fields wouldn't be online for ten years, so what is expected to happen NOW? Oil/gas prices certainly aren't going to drop, dependence on foreign sources will continue (though most of our oil doesn't come from the Mideast) and to top it off, the amount projected to exist there makes up less than 2% of the world oil market; it will just get mixed in with the rest so you sure aren't going to be able to request the 'Cheap ANWR gas'! at the pump. So what is the sudden big push to drill? Except for the oil companies no one else will benefit that I can see.

Best Answer - Chosen by Voters

The promise of more supply would push the prices of oil futures contracts lower fairly quickly and if we don't eventually decide to drill anywhere they will continue to rise into the stratosphere. 100% 1 Vote