Drill ANWR: Realism over emotion May 23, 2006
The United States Geological Survey has estimated ANWR holds a mean estimate of 10.4 billion barrels of recoverable oil. This would be the equivalent of a "Prudhoe Bay II." Murkowski, testifying on behalf of the National Governors Association on February 10, 2005, told the House Energy and Commerce Committee:
It also says this. Notice the date of 2006 above in link:
"At over $70 a barrel, the price of crude oil is nearly four times the spot price on the day back in 1995, 11 years ago, when then-President Clinton vetoed drilling in ANWR. They say there are no short-term fixes, I would agree with that, but if we had authorized drilling in ANWR 10 years ago, crude oil prices would not be, in my opinion, over $70-a-barrel today."
thanks very much. someone else linked me to this with a chart on the 3rd page and the last paragraph on page 2 explains the diff w/ shale
http://www.itwire.com/content/view/18986/1066/1/2/
I thought I had heard a few times that the US had more oil than the middle east so with shale, I guess that’s true. But at what point does it make sense to drill for shale and then count it as reserves?
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