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Arctic Circle holds 90 bln barrels oil: U.S. Govt
reuters.com — The Arctic accounts for about 13 percent of the world's undiscovered oil, 30 percent of the undiscovered natural gas, and 20 percent of the undiscovered natural gas liquids, the agency said in the first publicly available petroleum resource estimate of the entire area north of the Arctic Circle.
MookiBlaylock- 135 diggs
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- Grova, on 07/23/2008, -1/+6Wow! That's alot I think.
- trolleyfan, on 07/23/2008, -3/+3Not really. That's only half of what Canada has...or a third of Saudi Arabia. It would increase total world reserves by maybe 8 or 9 percent.
All in an area where extracting it will be about ten or twenty times more expensive than say, a nice empty Middle Eastern desert.
It may supply more oil to the world...but it certainly won't be *cheap* oil.
- trolleyfan, on 07/23/2008, -3/+3Not really. That's only half of what Canada has...or a third of Saudi Arabia. It would increase total world reserves by maybe 8 or 9 percent.
- AmyVernon, on 07/23/2008, -4/+2does that mean we should drain it and then figure out how to get by without fossil fuels?
- akpwnz, on 07/23/2008, -2/+2Time to start going else where for our oil. That is truly unbelievable.
- userperson, on 07/24/2008, -0/+1Yeah... when oil hits $500 dollars a barrel (inflation adjusted), it'll be a real bargain. All the $15 a gallon gas you can pump (again, adjusted).
- Denneval, on 07/23/2008, -1/+4But what will happen to Santa?
- userperson, on 07/24/2008, -0/+1see Saddam Hussein.
- peppino, on 07/23/2008, -2/+2There will be blood.
- acmaurer, on 07/23/2008, -0/+2But there will be oil!
- s0l0s0ul, on 07/23/2008, -2/+1I DRINK YOUR MILKSHAKE!
- rsHoratio, on 07/23/2008, -4/+2Why the hell are we trying to steal the oil in iraq? lets go after those elves!
- jei731, on 07/24/2008, -1/+1Most of it lies north of Russia, under the continental shelf connected to them. So, sadly, under international and maritime laws, USA has no claim to it, although that didn't stop USA from getting the Iraq's oil either. Russia had better beware.
- repoulin, on 07/24/2008, -0/+4Too bad the current democRATS won't let us drill
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