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To: Win Smith who wrote (54)	11/26/2002 10:31:28 AM
From: Win Smith	of 603

U.S. Fails to Curb Its Saudi Oil Habit, Experts Say nytimes.com Clip: Established in the 1970's as a response to an oil embargo by the Organization of Arab Petroleum Exporting Countries, which is based in Kuwait, the reserve now holds a record 592 million barrels, part of a Bush administration plan to reach 700 million barrels by 2005. But because of increased American dependence on imported oil, the length of time the reserve can compensate for lost imports has declined from a high of 118 days in 1985 to 51 days at the end of last year. Some oil experts advocate increasing the reserve to one billion barrels. Alan Larson, under secretary of state for economic affairs, went to Saudi Arabia last month to secure assurances that Riyadh would pump extra oil if it were needed, American and Saudi oil executives say. Last month Mr. Caruso's office helped prepare an "oil market contingency planning" book, based entirely on public data. The Energy Department has restricted the book's distribution to keep it from Congress and the public, according to government officials.

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