Survey predicts vast supplies of Arctic oil, gas

QUEENIE WONG
McClatchy Newspapers
Thursday, July 24, 2008

WASHINGTON — An estimated 90 billion barrels of undiscovered but technically recoverable oil — three years of world consumption — lie north of the Arctic Circle, the U.S. Geological Survey reported Wednesday.

While the oil, along with vast quantities of natural gas, will be extremely difficult to tap, the promise is enough to make the frozen north the new — and maybe last — frontier for world energy producers.

probability. If they’re further confirmed, they become reserves.

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Currently, the five nations that border the Arctic — the United States, Russia, Denmark, Canada and Norway — all have their eyes on what geologists say is about a quarter of the world’s undiscovered but technically recoverable oil, natural gas and natural gas liquids.

According to the new survey, the Arctic Alaskan Province, which includes offshore seabeds, has the greatest potential for undiscovered oil, an estimated 30 billion barrels.

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4 Responses to “Survey predicts vast supplies of Arctic oil, gas”

1. me Says:
   July 24th, 2008 at 10:19 pm

   i read this today. too bad for canada and imperial america, the globe and mail’s graphic put most of the potential oil (at 80-100% probability) in denmark (greenland) and russia. oh well, at least canada has the northwest passage, untill you imperial americans steal it from us.

2. Unidyne Says:
   July 25th, 2008 at 5:04 pm

   Gee! And we wouldn’t even known it was there or had access to it if the ice sheets weren’t melting due to Global Warming!

   Oh, wait. There is no Global Warming, is there?

   Never mind.

3. MARIA Says:
   July 26th, 2008 at 8:49 pm

   NNNNNNNNNNNOOOOOOOOOOOO to oil, enough is enough with oil. We must be rid of this dependancy. There are so many other alternative methods, alcohol, water, sun, wind, come on people say no to the damn oil !!!!

4. Steve Williams Says:
   July 27th, 2008 at 5:58 am

   Kids, just say no to oil.

   It’s time to move into ways of getting things done that don’t involve creating an ecological disaster in doing so.