From Arctic Drilling Wouldn’t Cool High Oil Prices

Drilling for oil beneath the pristine tundra of the Arctic National Wildlife Refuge would do little to ease world oil prices, the federal government’s energy forecasters said in a new report issued in a week that saw oil surpass $130 per barrel for the first time.

As for offshore drilling in the lower 48, see Impacts of Increased Access to Oil and Natural Gas Resources in the Lower 48 Federal Outer Continental Shelf:

Because oil prices are determined on the international market, however, any impact on average wellhead prices is expected to be insignificant.

As The Inverse Square Blog notes:

That is: the oil addicts do not wish to confront knowledge fully in the public domain, data produced by one of the most pro-oil administrations in memory.

This is why it matters whether or not our elected officials are held accountable for being able to count. And yes, I mean you too, John McCain, with increased domestic production as the first priority listed in your energy agenda.