Last week President George W. Bush held a press conference on the current state of the economy and the high cost of energy.  In it he made several important points.  First, he noted that one reason gas prices are increasing is that global supply has not kept pace with the growing demand worldwide.  Members of Congress, he noted, “have been vocal about foreign governments increasing their oil production; yet Congress has been just as vocal in opposition to efforts to expand our production here at home. They repeatedly blocked environmentally safe exploration in ANWR. The Department of Energy estimates that ANWR could allow America to produce about a million additional barrels of oil every day, which translates to about 27 millions of gallons of gasoline and diesel every day. That would be about a 20% increase of oil...and it would likely mean lower gas prices.”