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Six prominent myths, none of which is true

1. It is impossible to balance energy exploration and environmental protection

2. There is a massive energy industry conspiracy, limiting supply to drive up prices

3. The Bush energy plan is focused almost exclusively on opening the Arctic National Wildlife Refuge (ANWR) to exploration

4. Government subsidies and tax breaks are the best way to encourage new exploration and energy production

5. Can forego traditional sources and meet demand by wind, geothermal, solar, and other forms of renewable power

6. Price controls are the answer to the energy crisis

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Can we balance exploration and environmental protection?

• Today, satellites and computers are tools of choice for exploration.

• Acoustic and electrical vibrations off the earth's depths provides maps of resource fields

• With advanced equipment, drill vertically, horizontally, or around corners up to 6 miles

• Fewer rigs, fewer roads, fewer pipelines

• 65 acre drilling in 1970s needs only 10 now

• Success rates have increased 50 percent

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Is there a price gouge conspiracy?

* Calls to investigate gasoline price spikes

* Allegations that power generators in the West have been withholding electricity

* Investigation and action is taken where merited

■ FERC ordered power companies to rebate $124 million to California utilities

■ FTC cleared gasoline suppliers relating to last summer's price increases

* There is no hidden energy pool that can be turned on and off like a faucet

* Must solve power crises by resolving conflict between demand and supply

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Is there a price gouge conspiracy? (2)

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♦ Early this year (2001) one company proposed to build a $400 million power plant in California

■ Additional electricity for 600,000 homes

■ Plant 800 trees to beautify the area

■ Cloak facility in a brick facade to resemble a high-rent office complex

■ Help maintain habitat for an endangered butterfly

* Project supported by Sierra Club, American Lung Association and NAACP.

■ City officials unanimously (11 to 0) rejected it

■ Local paper called this move "Dumb and Dumber".

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Is there a price gouge conspiracy? (3)

* Plans to build a 550 megawatt gas-fired generator in a Los Angeles suburb were scrapped

* Residents voted 2:1 against the project

* Local mayor launched a hunger strike in opposition to it.

* In California:

Workers are being laid off

■ Companies are leaving the state Consumers threatened with rolling blackouts

■ Local officials reject power plants with little regard

* Is it really any mystery why there hasn't been a single new power plant built in California in the last decade?

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Arctic National Wildlife Refuge Exploration

* Myth: Would buy only about 6 months worth of consumption while destroying pristine wilderness and disrupting the caribou

• Fact: The ANWR holds from 5.7 to 16 billion barrels of recoverable reserves (mean is 10.4)

■ More than 300 times the oil Clinton released

■ Frees us from equivalent of 54 years of imports from Saddam Hussein and Iraq

■ Exploration involves only some 2,000 of more than 19 million acres ~ like half the Dulles airport compared to the entire state of South Carolina

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