USGS Survey shows huge oil-natural gas reserves in Arctic Circle
July 27, 2008
According to the New York Times, the United States Geological Survey (USGS) has just released a study showing that the Artic Circle holds one fifth of the world’s oil reserves. Most of the oil and natural gas resources fall under current territorial claims. As Russia, the United States and Canada begin to go after these newly charted energy fields, most national disputes will be avoided for now. But the question remains whether American energy needs will be addressed in US Territory or whether Congress will put up barriers to expediting development of these newly discovered fields.
Sphere: Related ContentComments
Got something to say?
You must be logged in to post a comment.
