Center for American Progress: 5 Reasons the Willow Oil Drilling Project Would Fail To Lower Gas Prices and Only Benefit Big Oil
With elevated global energy prices as a result of the Russian invasion of Ukraine, opportunistic politicians, pundits, and trade associations have called for an increase in domestic oil and gas development. In particular, proponents of the Willow oil drilling project—a massive Arctic drilling proposal from ConocoPhillips—are citing “inflation, high energy costs, [and] the need for energy security” as reasons to approve the project.
These arguments are false. The United States currently produces more than twice as many barrels of oil per day as it produced in 2008 and is exporting record amounts of oil to other countries. The Willow project would be an especially poor solution for high energy costs. In fact, it is a climate disaster in the making: By investing in a dirty energy future and contributing to climate change, devastating Alaska and the rest of the world, the project threatens to make everything more expensive.