The U.S. oil and gas industry faces an interesting choice over leasing of the Arctic National Wildlife Refuge Coastal Plain. It can press for leasing now under the assumption that the political climate will never be better. Or it can assume that the climate might improve and delay the tussle until then. Whatever choice it makes, the industry must base its case on the issue's only politically compelling aspect-economics. Much more is at stake than the question of who might seek and win ANWR leases. ANWR is a bellwether issue for the upstream oil and gas industry. LONG SHOT Until now, congressional committee assignments ...

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