The US Geological Survey estimates there is no economically recoverable oil in the section of the Refuge with market prices at $US15 a barrel.
At a market price of $US18 bbl there are 2.4 billion barrels of economically recoverable oil and 3.2 billion barrels at $US20, the UGS said. With the continuing turmoil in the Middle East, plus the uncertainty of securing supply from Central Asian sources, many commentators in the US believe the Refuge would be an excellent emergency reservoir. The US has a voracious appetite for energy and consumes about 11 million barrels a day.
