OK, but what about the impact on the price of oil, which I've been saying is correlated with the price of gasoline? The Energy Information Administration released a March, 2004 study saying
With respect to the world oil price impact, ANWR coastal plain oil production in 2025 is projected to constitute between 0.5 to 1.3 percent of total world oil consumption. It is expected that the price impact of ANWR coastal plain production might reduce world oil prices by as much as 30 to 50 cents per barrel, relative to a projected 2025 world oil price of $27 per barrel (2002 dollars) in the AEO2004 reference case. Assuming that world oil markets continue to work as they do today, the Organization of Petroleum Exporting Countries could countermand any potential price impact of ANWR coastal plain production by reducing its exports by an equal amount.You can find an MSNBC report on the study here.
Again, I think we're left with the hard truth that if we don't like gas prices, the answer is to stop wanting gas so much.