Petroleum in the Arctic

Technically recoverable oil and gas reserves are surveyed in the Arctic by the U.S. Geological Survey.

The problem could be that more than two-thirds of the reserves are on offshore and how economical would be the exploration. Not to mention the environmental concerns. Alongside oil, natural gas reserves are also very high. The explored Arctic area contains about one-fifth of world’s petroleum reserves of which oil is roughly about 90 billion barrels.

Source: Yahoo! News

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