Why would this amount be important to our energy economy or why would it be insignificant?What are the estimated returns (in barrels of oil) from drilling in ANWR?
The American Geological Institute has posted estimates of between 2.4 and 3.2 billion barrels of recoverable oil in ANWR (see link). That sounds like a lot, but when you consider that the US consumes 20 million barrels of oil PER DAY, it isn't that much. At current rates of consumption, the oil in ANWR constitutes less than six months' supply. Compared with world production, which is the basis upon which oil is priced, 3.2 billion barrels is insignificant.
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