Arctic May Hold as Much as a Fifth of Undiscovered Oil and Gas Reserves

International Herald Tribune ^ | July 24, 2008 | Jad Mouawad

[kellynla]

ping

[Balding_Eagle]

The world is awash in oil.

This is simply further evidence.

[Will88]

“the region might hold as much as a fifth of the world’s yet to-be-discovered oil and natural gas reserves.”

One-fifth of yet-to-be-discovered? I think they’re assuming too much there. They don’t know how much yet-to-be-discovered oil and natural gas there is.

[Need4Truth]

If only globull warming were true and the ice caps really were melting.

[Candor7]

as the polar ice cap melts >>>>>>>>>>>>>>>>>>>

OH , PULLLEEESE!

Enough already!

That ice cap will be coming back in spades on another 4 or 5 years. These twits refuse to understand that the primary engine driving the climate is THE SUN!

And Old Sol has decreased its energy output and when the warming trend runs out lag time on our lovely planet, you can bet that ice will come back in spades, maybe too much.

They need to explore while its easier, but you know what? The ice will be back , and it will be back powerfully, and the cold will likely be more than they would ever want in exploratory terms.

[avacado]

"One-fifth of yet-to-be-discovered? I think they’re assuming too much there. They don’t know how much yet-to-be-discovered oil and natural gas there is."

Exactly right!

The Gulf of Mexico was considered played out in the mid 1990s and then new seismic technology found more reserves and just recently 15 billion barrels were found in the Gulf of Mexico. And the Gulf of Mexico is one very intensively surveyed area.

[Michael.SF.]

I assume they do not mean this kind of fifth:

[Larry Lucido]

I hope there's more than a fifth. :-)

[kellynla]

“as the polar ice cap melts >>>>>>>>>>>>>>>>>>>

OH , PULLLEEESE!

Enough already!”

Well, these Lefties are atheists;
so they don't believe God can & will change the temps down here anytime He feels like it. LOL

[Larry Lucido]

Beat me by 31 seconds.

[tet68]

Since oil resources seem to be found on every continent, I wonder how much is under Antarctica?

[tet68]

Since oil resources seem to be found on every continent, I wonder how much is under Antarctica? Then too, we have only been using modern methods to search for some 50 years, there's a lot of world out there.

[avacado]

"Since oil resources seem to be found on every continent, I wonder how much is under Antarctica?"

Seismic surveys on ice are difficult. The sound waves hit the ice and get all fuddled in the ice and don't return a good sound/pressure wave back from the subsurface features. But this type of seismic technology is being worked on today for the future and very near future.

[djf]

I was talkin to a guy once and he said basically “Whatever they tell you, multiply it by ten!”

He was a hydraulic engineer.

For twenty five years.

At this little backwater joint called Prudhoe Bay.

[Michael.SF.]

LOL. GMTA

[Species8472]

“Whatever they tell you, multiply it by ten!”

The USGS originally estimated 10 Billion barrels at Prudhoe Bay

So far we have recovered 17 Billion barrels.

[wastedyears]

You don’t like Johnnie Walker?

[ken21]

if it’s

“undiscovered”

then how

would you quantify it?

[kellynla]

“if it’s

“undiscovered”

then how

would you quantify it?”

it's a “guesstimate”

But we KNOW there is enough coal reserves alone for our energy needs for HUNDREDS OF YEARS! And that's without building one more nuclear power plant or expanding off shore and onshore drilling for oil & natural gas!