How much could we reduce oil imports by opening the Alaska National Wildlife Reserve (ANWR) for drilling?
The exact amount of oil in the ANWR is uncertain, but geologists at the USGS have estimated that the area has up to 10.4 billion barrels of economically recoverable oil. Ignoring costs, at a constant rate of potential production of 1 million b/d, this equates to roughly 28 years of supply once drilling began. If we consider costs, however, the number is likely lower. Thus, by itself, opening ANWR will not result in a substantial reduction in import dependence. Q. The new 2007 energy bill increases corporate average fuel economy standards (CAFE) to 35 miles per gallon (mpg) for new automobiles by 2020, with first improvements required in passenger fleets by 2011. Is this new policy enough to lower U.S. oil imports? No, the new 35 mpg standard for passenger cars is a step in the right direction, but it will only be able to ameliorate the projected increase in U.S. oil imports over the next 10 years. In addition, it will not reduce our imports from current levels. Given the schedule for t
