Unless there are some really great arguments I'm not  aware of, this article (yes, from the National Review) pretty deftly lays waste to most of the arguments against drilling in ANWR.

One issue he doesn't address, though, is the timing -- and it's there that I think we (and the Obama campaign) should differ from the conservatives.  In terms of our overall oil appetite, ANWR has a pretty tiny amount of the stuff; a 6-month supply, essentially.  With oil prices consistently rising and energy security an issue, shouldn't we save the oil in ANWR for when it'll actually matter, or at least, when we'll get a better price for it in the future if the growth in demand for oil continues to outstrip supply growth?  The idea that drilling in ANWR *today* is a good idea strikes me as a cheap Republican political ploy, even if drilling there *tomorrow* makes perfectly good sense.

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