How does drilling anwr going reduce gas prices?

Question

so we drill in the us and off shore. will this bring down the price of gas at the pump? i mean, big oil companies sure don't want the price at the pump going down.

Answer 1

oil companies do not set the price of petrol, per se.  It is supply and demand.  If there is more supply, the price goes down.  If oil companies set the prices, why would they need to spent multimillions to develop new oil fields.  

Right now, there is a lot of speculation and demand by the third world.  China alone is bringing 2 power plants a year on line to try to bring power to their people.

Answer 2

OPEC will not pump any more, so ANWR is a way to  increase supply.  If demand stays the same, economic theory says the price would go down.