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Americans consume 25 percent of the world's produced oil, but America holds less than 3 percent of the world's proven oil reserves. The amount of economically recoverable oil in the Arctic Refuge, according to U.S. Geological Survey estimates, would increase world reserves by just 0.3 percent - not nearly enough to make a significant dent in American imports or to influence petroleum prices. Over the Arctic Refuge field's 50-year life, it would likely produce less than what America now consumes in six months, and less than 1 percent of what America is projected to consume over those 50 years. [source: Natural Resources Defense Council]
Americans consume petroleum products at a rate of three-and-a-half gallons per person per day.
Americans consume 25 percent of the world's produced oil, but America holds less than 3 percent of the world's proven oil reserves. The amount of economically recoverable oil in the Arctic Refuge, according to U.S. Geological Survey estimates, would increase world reserves by just 0.3 percent - not nearly enough to make a significant dent in American imports or to influence petroleum prices. Over the Arctic Refuge field's 50-year life, it would likely produce less than what America now consumes in six months, and less than 1 percent of what America is projected to consume over those 50 years. [source: Natural Resources Defense Council]
Americans consume petroleum products at a rate of three-and-a-half gallons per person per day.
