Haley Stevens: “That is 10.3 billion barrels. Again, I point out to my friend from Massachusetts, the estimate for the existing area of…”

“That is 10.3 billion barrels. Again, I point out to my friend from Massachusetts, the estimate for the existing area of Prudhoe Bay was 1 billion barrels. We have produced 13 billion so far. The mean estimate is 10.3. We believe it is a lot bigger than that. If oil is there, it is big. It is the biggest sedimentary basin on the North American continent if it contains oil. We do not know yet, but we will not know until we drill. The real point is, though, we can have a decided improvement in our ability to rely upon our own sources in the event of a crisis if we really go in and open up this area and it is producible. Remember, it takes an act of Congress to open up. It is the only place in the United States where the Mineral Leasing Act was qualified by a provision of Congress, and I agreed to that. That was a Tsongas provision. It will take an act of Congress, passed by both Houses and signed by the President, to do this oil and gas exploration. The area remains subject to oil and gas exploration until it has been explored. This will not become part of the Arctic National Wildlife Refuge until it is explored. It is reserved for oil and gas exploration, in effect, until we get permission to go in to see if it is there or not.”