Quote One (SOURCE):
Senator Chuck Schumer (D-NY) said the Administration was "strangling" any attempts to make serious investments at alternative energy over the last seven years and that drilling in the Arctic Wildlife Refuge would "take ten years and reduce the price of oil by a penny."Quote Two (SOURCE):
"If Saudi Arabia were to increase its production by 1 million barrels per day that translates to a reduction of 20 percent to 25 percent in the world price of crude oil, and crude oil prices could fall by more than $25 dollar per barrel from its current level of $126 per barrel. In turn, that would lower the price of gasoline between 13 percent and 17 percent, or by more than 62 cents off the expected summer regular-grade price - offering much needed relief to struggling families."If you said "Senator Chuck Schumer claims that coercing Saudi Arabia to increase oil production by 1 million barrels a day would drop the per barrel price by $25, saving Americans 62 cent per gallon at the gas pump. Yet, somehow, that same amount of oil coming from Alaska's Arctic National Wildlife Refuge would only ease oil prices by a penny," you'd be correct.
Had Clinton not vetoed the legislation allowing for drilling in ANWR back in 1995, a million barrels a day would currently be flowing through the Alyeska pipeline.
So, a million barrels from Saudi Arabia would drop the price of gas dramatically but a million barrels from ANWR wouldn't influence the price at all? Really ... ?
You don't have to have a degree in economics or political science to figure out that Schumer's numbers can't possibly both be right or why he's fudging them.
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