Alaska's untapped oil reserves estimate lowered 90 percent

[sinkingfeeling]

http://news.blogs.cnn.com/2010/10/27/alaskas-untapped-oil-reserves-estimate-lowered-90-percent/

The U.S. Geological Survey says a revised estimate for the amount of conventional, undiscovered oil in the National Petroleum Reserve in Alaska is a fraction of a previous estimate.

The group estimates about 896 million barrels of such oil are in the reserve, about 90 percent less than a 2002 estimate of 10.6 billion barrels.

"Recent activity in the NPRA, including 3-D seismic surveys, federal lease sales administered by the Bureau of Land Management and drilling of more than 30 exploration wells in the area provides geological information that is more indicative of gas than oil," the geological survey said.



Maybe Palin stole it.

[hatrack]

1. Oops!

:eyes:

[unhappycamper]

2. We need to buy more weapons to occupy more countries.

We just lost nine billion barrels of the gooey stuff and we need to keep our military machine kicking some ass.

[jaksavage]

3. Racing toward the edge

full speed ahead.
Damn the precipise.

[Sal Minella]

4. The cost of leases would be reduced considerably if the estimated

amount of oil present is computed as one-tenth of original survey results, eh?

Not that any Big Oil companies or anybody would have any financial interest at all in seeing that these "revised estimates" would be unbelievably low.

I don't see any financial gain to be made in grossly over-inflating the original survey results, whereas there's a great deal of financial gain for the Oiligopoly possible in revising the estimates 90% downward.

Stinks, if you ask me. Which nobody did, of course.

[uncle ray]

5. we'd have known that years ago had they just let us driil there.

[booley]

6. But I will bet you money

That if the GOP comes back into power they will again try to drill in ANWR and they will continue to cite the larger 2002 estimate as proof there is plenty of oil.

[thereismore]

7. It's an Obama plot to bankrupting America.

:patriot: