According to a US Government report, in 2005 the US will consume 20.4 million barrels of oil per day. That same report states that the Arctic National Wildlife Refuge has 10.3 billion barrels of "technically recoverable" oil. That comes out to about 500 days worth of oil at our current consumption rates (but since consumption keeps rising, it will actually be less). That's not very much. In my opinion, it's not enough to risk the possible devastation that could occur in Alaska. And I don't believe that such a small amount will provide relief from foreign oil as proponents want you to think.
But a provision to allow drilling at the ANWR was tacked onto the budget in the Senate. A tricky move since Senate rules forbid a filibuster on the budget, thus ensuring its passage. Today, a vote to remove that provision failed 49-51. Our country just moved one step closer to drilling in Alaska. If the House passes it in their budget, that will be that.