Bill Clinton gave the same reasons for not drilling 12 years ago. At some point we have to realize that we do have to prepare for the long term. I'm in the oil business so I'm familiar with the time tables involved. I think most of the estimates which are greater than 10 years are simply not accurate.

Furthermore, should we apply the same logic to alternative energy? Should we disregard research and development of types of energy production simply because they won't be ready for 8-15 years? Of course not; that would be foolish.

The pipeline is already in place in ANWR with wells already drilled but capped.

Oil is not a long term solution; it's a relatively short term solution to get us to the time when we are ready to implement alternative energy on a widespread basis. I see no evidence that we will be ready for the next 10-15 years; therefore we should drill now.

Our reserves are miniscule compared to the total demand. However, you underestimate the impact of the futures market which currently makes up roughly 25% of the current price of oil, give or take a few points. That market would be very hard hit should it become aware of our intentions to supply large amounts of domestic oil in the next 10 years. Just look at what happened to the price of oil when Bush announced the removal of the ban. It may just be mental but it works and it is real.

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