USGS Seeks to Quantify Unfathomable Richness of Arctic Circle, Oil and Gas

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Yesterday the U.S. Geological Survey released the first publicly available petroleum resource estimate of the entire area north of the Arctic Circle, suggesting that 90 billion barrels of oil, 1,670 trillion cubic feet of natural gas, and 44 million barrels of technically recoverable natural gas liquids in 25 geologically defined areas are thought to have potential for petroleum.

The U.S. Geological Survey Wednesday released the first publicly available petroleum resource estimate of the entire area north of the Arctic Circle, suggesting that 90 billion barrels of oil, 1,670 trillion cubic feet of natural gas, and 44 million barrels of technically recoverable natural gas liquids in 25 geologically defined areas are thought to have potential for petroleum.

These resources account for about 22 percent of the undiscovered, technically recoverable resources in the world, according to the USGS.

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