... National Petroleum Reserve in Alaska contains far more oil than previously expected, ... THE NEW Geological Survey assessment estimates that the recoverable oil reserves beneath the federally owned part of the reserve, ... are between 5.9 billion and 13.2 billion barrels. ... some 1.3 billion to 5.6 billion barrels would be economically viable at market prices between $22 and $30 a barrel,... In its last full-scale assessment, in 1980, the agency estimated oil reserves between 300 million and 5.4 billion barrels.
Sorry Val, but that is the way Petroleum Geology is.
Every time any formation anywhere has been reevaluated with new methods it has been found to contain far more than originally thought. That is because estimates are made conservatively. It is not a lie, it is just better technology and better estimating methods.
So9