Energy Fact of the Day

Press Release

FACT: The mean estimate of technically recoverable American oil in Arctic National Wildlife Refuge (ANWR) is 10.4 billion barrels - all of which is now economically recoverable.

* That's more than twice the proven oil reserves in all of Texas.
* That's almost half of the total U.S. proven reserve of 21 billion barrels.
* That represents a possible 50 percent increase in total U.S. proven reserves.

There has been much discussion on how to most responsibly increase our energy supply to meet the demands of our growing economy. Even as we move forward with conservation and alternative sources, if demand grossly outweighs supply, prices will still remain unstable and high. One important part of this energy discussion is our nation's heavy dependence upon foreign sources of oil. While there is legislation that is addressing the issue of renewable energy, we still use and must rely on oil. Currently, 60 percent of our oil is imported.

It is imperative that federal energy policy embody appropriate incentives to respond to the challenges which lie ahead in our energy future. The growth of both the Chinese and Indian economies presents the specter of rising global demand for oil. Political exigencies such as Venezuelan unrest, veiled supply disruption threats by Iran, and the attempted attack on the Saudi pipelines by al Qaeda should serve as a wake-up call to all of us.

The uncertainty concerning our energy future affects not only our economic "life-blood" but our national security as well. American national interests must be immunized from the dictates of a global petroleum cartel. We must not allow our potential energy vulnerability to become the "Achilles heel" of our status as a global superpower. Our ability to pursue our interests and promote our values in the conduct of American foreign policy must not be encumbered by our petroleum dependency.

That being said, it is important to note that many opposed to opening ANWR raise a number of concerns. The most common criticism of opening ANWR is that it only contains a six month supply of oil. While it is true that a six month supply of oil for the U.S. is about four billion barrels, the mean estimate is that ANWR contains up to 10.4 billion barrels of oil that could be recovered using existing technology. Since the trans-Alaska pipeline system has a maximum capacity of two million barrels per day (and is currently sending about one million barrels from Prudhoe Bay), it is clear this oil will supplement rather than replace our need for foreign oil. At the rate of 2 million barrels per day, even if the oil pipeline were filled entirely with ANWR oil, the Refuge could be producing for 25 years or longer.

Another common argument against ANWR is that opening the Refuge will disturb the caribou that migrate to the region. This argument is contrary to what happened in Prudhoe Bay. The Central Arctic Caribou Herd, which uses the area around Prudhoe Bay where oil development has been ongoing since the early 1970s, has grown in number five-fold. Clearly oil development in Alaska and caribou can coexist.

Alaska has a history of being a good steward of the land and that stewardship will continue should drilling in ANWR occur. One of Alaska 's greatest attributes is its environment. Protecting the land in Alaska can be achieved while development takes place. That development is the foundation of Alaska 's resource-based economy. If ANWR drilling takes place, it will be limited to a very small area of 2000 acres, about the size of the National Mall in Washington, DC . Included in this proposal are strict environmental safe-guards to ensure that the Costal Plain is protected. All exploration would take place in the winter so that ice roads can be constructed to ensure that the delicate tundra is shielded from the impact of drilling related activities.

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