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Posted by kevin r schmidt on 04/21/02 - 21:27:35
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First, I am opposed to ANWR myself.  Its an area that should not be developed unless it is in a time of national crisis (global war).  

The purpose of ANWR is for pure economic gain.  Why are the two Alaskan Senators are in favor of ANWR?  Because it means jobs in Alaska.  And that means it pumps money into the state of Alaska.  

There are several companies that will benefit financially from the tax incentives derived from developing ANWR.  Then there are the stockholders who will benefit.  A derivative benefit will be given to people who have retirement accounts in plans such as CalPers, etc..

The driving force to develop ANWR has nothing to do with [energy] independence.  Being less dependent on foreign oil is the spin sell the general public is being given.  The real motivation is financial; both direct and derivative.    

I believe the most effective way to improve the international economy and reduce this country's energy dependence, is if our government would reduce the influence institutional investors have on corporations and the stock market.  The money managers of those funds only think in the near short-term.  The more those funds grow in equity and yields.  The more money the fund manager makes in the form of a salary.  

I believe in the free market economy.  But something has to be done about insititutional investors.  Don't expect anyone in public office to champion that issue.  It will mean sudden death to their political career and they know it.

ANWR is Republican pork barrel at its worst.  

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