Many in America have felt the pain of high gasoline prices recently and often discuss why this happens in a nation so full of natural resources.The US Geological Survey and the Minerals Management Service at the Department of Interior who regulate America’s natural resources on and off-shore estimate that America holds more than 21 billion barrels of proven conventional oil reserves.1Add to this the unproven reserves such as those in the 10-02 Area of ANWR and the figure runs to over 100 billion barrels2.
The U.S. imports over 65% of the nation's needed petroleum. These oil imports cost more than $55.1 billion a year. This figure does not include the military costs of imported oil. These figures are rising and could exceed 80% imports by the year 2010.
Background: Prudhoe Bay Oil and Gas Discovery and Development The U.S. Geological Survey first surveyed Alaska's Arctic in the 1920s, then during and after World War II to identify petroleum reserves for the U.S. Navy. While promising structures were found, the harsh, isolated northern frontier was deemed too costly to explore, especially compared to more accessible areas.
Wildlife other than caribou, such as bears, wolves, and moose, use the Coastal Plain area infrequently and would be unaffected by development. Populations of these animals and others that live on the Coastal Plain such as muskoxen, are healthy and increasing despite three decades of development at Prudhoe Bay. Oil and gas development on the Coastal Plain would be temporary, and the long term ability of the habitat to support wildlife would not be affected.