Summary
The U.S. Geological Survey has previously offered a rough estimate of the Arctic's vast oil and gas resources. On Wednesday, the state-funded agency released a study that refines its estimates for the entire Arctic region.
The Arctic actually appears to be far richer in natural gas than oil. There are about 1,670 trillion cubic feet of natural gas in the Arctic, according to the U.S. assessment. That accounts for about 30 per cent of the world's untapped reserves, and is nearly as much as the proven reserves of the world's most natural-gas endowed country, Russia. Combined, oil and gas account for 22 per cent of the world's undiscovered petroleum resources.See the full content of this document
Extract
Arctic Rich in Oil, Gas Resources
By Andrew Mayeda
OTTAWA -- Nearly a quarter of the world's undiscovered petroleum resources lie in the Arctic, confirms a U.S. s...See the full content of this document
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