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Should the United States drill for oil in the Arctic As most people should have known the oil and the gas prices had rise since the attacked of the terrorist on 91101 Ever since the evolution of machine the technology of machine for drilling for oils has advance very much over the past twenty years With the advance of technology drilling for oil had been much simpler for the people and much more efficient in terms of oil collecting The Arctic National Wildlife Refuge an enormous piece of land located in the Northeast of Alaska is believe to contains about a billions of barrels of oil If the United States are willing to drill in the ANWR this would lead to trade deficit because foreign policy would change and we cant do anything about it just last year our oil trade deficit was 51 billion 1 The area of ANWR can potentially produce 15 million barrels of oil per day for at least a quarter of a century therefore increasing domestic production by almost 25 2 Allowing drilling in the ANWR would also reduce the deficit by about 14 billion per year 2 Furthermore the Congressional Budget Office estimates that federal revenues from lease sales would be 13 billion over the next seven years 3 this would help cut the budget deficit Not only would the government gain profit out of it but the Alaskan would also If the Alaskan are willing to split the profit of the oil drill they would gain at an estimated price of 26 billion evenly with the federal government 4 Not only will the Alaskans and the federal benefit from this oil production but also an estimated 222000 to 732000 jobs will be created throughout the country 2 The jobs would be manufacturers suppliers and transporters of oil related equipment will increase job employment dramatically with 98 percent of these jobs in the lower 48 states Even though
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