04/21/02 - 16:24:29
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Dear Senator _________|
I am writing to thank you for your vote to stop a bill that would permit oil drilling in the Alaska National Wildlife Refuge. Since its appointment by the Supreme Court 1 1/2 years ago, the Bush Administration has maintained an energy policy largely based on the idea of "more domestic oil drilling," a solution that has been tried before, and failed. From the website http://www.hubbertpeak.com/cleveland/bushpolicy.htm :
Between 1973 and 1980, the total footage of wells
drilled increased three-fold and the fraction of new capital investment in the US economy going to the oil industry increased from 2 to 7 percent. What did the nation get in return? During this same period, US production declined 7 percent and the oil industry's share of GDP declined from 4 to 2 percent. The gap between investment and production totaled more than 100 billion dollars from 1975 to 1987. Common sense economics clearly indicates that the huge diversion of
income would have produced greater economic benefits had it been invested elsewhere in the economy.
There is enough oil in the ANWR to satisfy the world, at present rates of demand, for maybe three months, and production in the lower 48 states reached its peak in the early 1970s. Instead of promoting a rationaldebate about energy policy, which would consider alternatives to oil production, the Bush Administration promotes a lie in order to subsidize its benefactors at public expense. Thank you for stopping it with the ANWR vote, and thank you in advance for stopping it in the future.
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