everybody in America is concerned about gas and oil prices. We all remember the long gas lines during the Carter administration, and the government made a commitment that we would be independent as far as energy needs were concerned at some point in the not too distant future, and we were supposed to work toward that end. I would like to give a report on where we stand because the American people are very, very concerned about high gas prices right now and the lack of oil. On May 29, the United States consumed as much oil as it will produce domestically all year. All the oil that we produce in the United States has been used up by May 29. That means from that date until January, 2008, next year, we are now completely dependent upon politically unstable regions of the world such as the Persian Gulf, Nigeria, and Venezuela for our energy needs. Why is that? Because year after year, decade after decade, this country throws up more roadblocks, usually because of some environmental reason, to exploring for and utilizing domestic supplies of oil and natural gas. In the ANWR, for instance, it holds the single largest deposit of oil in the entire United States, and that is 10.4 billion barrels of oil, and it is more than double the proven reserves in the entire State of Texas, and almost half of the total proven reserves in the United States, which is 22 billion barrels. To put it more simply, opening the ANWR could increase U.S. reserves by nearly 50 percent.
Editor's note · Context
Discussing U.S. energy independence and oil consumption during a speech on energy policy.
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