Arctic 'has 90bn barrels of oil'

[YankeyMCC]

And here's another shot in what will be the battle between "let's keep going with a fossil fuel culture no matter what we gotta do" and the rational option of reducing the need for fossil fuels period.

(snip)
The Arctic is thought to hold some 90bn barrels of untapped oil, equal to Russia's total known reserves, the US Geological Survey (USGS) has claimed.

The USGS says the area has three times as much untapped natural gas as oil.
(snip)

(snip)
According to the survey, the Arctic holds about 13% of the world's undiscovered oil, 30% of the undiscovered natural gas, and 20% of the undiscovered natural gas liquids.
(snip)

(snip)

US President George W Bush has already urged Congress to end a 27-year ban on drilling for oil in US coastal waters, to make the US less reliant on imports.
(snip)

http://news.bbc.co.uk/2/hi/business/7523118.stm

[ixion]

1. "the Arctic holds about 13% of the world's undiscovered oil"

uh, how the hell can you know what percentage something holds, when that something is undiscovered? :wtf: :crazy: :dunce:

[donco6]

2. beat me to it. eom

[YankeyMCC]

6. Yeah I wondered that myself nt

[HysteryDiagnosis]

3. What good is frozen oil? n/t

[liberal N proud]

4. If it is undiscovered, how do we know there is that much?

We could go up there destroy the environment and have a fraction of that much.

[GliderGuider]

5. The USGS. Now there's an accurate, unbiased source.

Of course they're going to drill the Arctic. But in the past the USGS estimates and reality have been on different planets. Don't be surprised if they actually discover 10% of the amount those bozos are proclaiming.

[Champion Jack]

7. I can't help but think about Easter Island when I read this stuff

[Algorem]

8. I say they've been melting it on purpose,using HAARP or whatever.

[hatrack]

9. I wasn't aware that they'd already finished doing the seismic shooting for the entire region . . .

:eyes:

[IrateCitizen]

11. Why do you have to do seismic shooting?

It's much easier to just assume that you'll find recoverable deposits of oil.... ;-)

[IrateCitizen]

10. USGS numbers have been grossly exaggerated, historically

I'd take anything they say with a grain of salt.