The reserves intended to contain up to a billion barrels of petroleum and prevent possible similar situations. It is estimated that a billion barrels would support America s oil needs for up to 90 days. Additionally, as oil prices are currently on the increase, our ability to fill the reserves could be on the decrease. We are fortunate to live in a time where fuel prices are low and the economy is good. But I fear that this has put blinders on our focus of future energy needs.
Energy is the key to our economic future, plain and simple.
We must fill our reserves and continue to examine how we will meet future energy needs through sources such as clean coal, hydrogen, natural gas and nuclear energy. We must also strive to be more efficient about the ways in which we develop and utilize petroleum in America today. Our national security, economic well-being, and environment depend on it. I led the fight on the House floor to prevent cuts in the oil reserves and I will continue to question the priorities of Congress when energy needs are not a part of any discussion dealing with America s future. I do commend the President s Administration for being cognizant of a potential crisis and for directing royalties from federal leases to the reserve.