you need to study this issue
of oil is obviously dependent on money, i.e., the price of
oil. It must be profitable for oil companies to extract the
oil after the cost of labor, transportation, construction
of facilities, wells, roads, airstrips, and pipelines. The
United States Geological Survey (U.S.G.S.) has projected that
at $24 a barrel, there is a 95% possibility of extracting
1.9 billion barrels of oil (BBO) from ANWR. Further, there
is a 50% chance of obtaining 5.3 BBO, and at the maximum,
a 5% chance of getting 9.4 BBO. At less than $16 a barrel,
there would be no economically recoverable oil from ANWR.
Following the construction
and preparation for drilling ANWR, extracted oil would not
be available for use until the year 2010.
The year 2000 oil
consumption in the U.S. was estimated to be 7 BBO and the
U.S. Dept. of Energy projects a 1.4% increase each year through
the year 2020. Cars and light trucks are responsible for approximately
40% of our oil consumption.
Oil imports amounted
to approximately 3.8 BBO in the year 2000.
Finally, it takes
one barrel (40 gallons) of oil to produce approximately 20
gallons of gasoline.