Ron Paul says "drill, baby drill" - bad idea says economists

In a recent Feature, Al Jazeera English talked to five professional economists about their views on Ron Paul’s economic policies. One of the economic points discussed was Paul’s idea to lower the price of fuel. Ron Paul believes, just like the other Republican front-runners in the 2012 election, that the price on fuel could be lowered if the US just allowed companies to drill for oil (both offshore and on land) in sensitive areas such as the Alaska National Wildlife Refuge (ANWR).

Dean Baker, co-founder of the Center for Economic and Policy Research, explained that oil drilling in ANWR wouldn’t result in any noteworthy changes to fuel prices. This idea would mean “a lot of risk both to the environment and the economy for really very little gain,” Baker said.

Here’s his full quote on drilling for oil in ANWR:

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