U.S. could be at top of list of countries with large oil reserves
In response to the letter of June 26 “Dollar Short” it appears that the letter writer has been listening to the Democratic response to the Republican effort to authorize drilling in ANWR. Senator Schumer (D-NY) was on on the radio saying it wouldn’t do any good for the 10-12 years as it would take that long for it to be on line. He failed to mention in this same interview that then President Bill Clinton (D) vetoed the entire budget in 1995 (thirteen years ago) because it obtained a provision to permit drilling in ANWR and also indicated he would veto any bill that allowed drilling in ANWR. According to Senator Schumer’s timetable we poor slobs here would now be benefiting from the drilling.
As for the letter writer’s assertion that the amount of oil there is insignificant I would like to point out that opponents of drilling there estimate that the U.S. Geological Survey report actually estimated 7 &2/3 billion barrels of oil to be recovered. Doesn’t sound too insignificant to me and if you add offshore amounts it puts the U.S. close to top of the list of countries with large oil reserves.
Ray Walters
St. Peters



I listened to several analyst who specialize in oil for the commodities market. Their take was drill in Anwar or off shore and we will use the oil up in fewer years than it took to drill. However, get the oil out of shale rock which sits in the middle of the US and we could have oil for several generations. The problem is that no one is developing the technology or at least putting much effort into it, which is needed to do the extraction at a reasonable cost. With oil companies making record profits and yet they will not put money into the future, most likely because it takes away from their bonus amount at the end of the year. This is a trillion barrels.