Oil and Gas Resources
The Chukchi shelf is believed to hold oil and gas reserves as high as 30 billion barrels (4.8×109 m3). Several oil companies have competed for leases on the area, and on 6 February 2008, the U.S. government announced the successful bidders would pay US$2.6 billion for extraction rights. The auction has drawn some criticism from environmentalists.
Read more about this topic: Chukchi Sea
Famous quotes containing the words oil and, oil, gas and/or resources:
“Oh Gull of my childhood,
cry over my window over and over, take me back,
oh harbors of oil and cunners, teach me to laugh
and cry again that way that was the good bargain
of youth....”
—Anne Sexton (1928–1974)
“Oh Gull of my childhood,
cry over my window over and over, take me back,
oh harbors of oil and cunners, teach me to laugh
and cry again that way that was the good bargain
of youth....”
—Anne Sexton (1928–1974)
“Droning a drowsy syncopated tune,
Rocking back and forth to a mellow croon,
I heard a Negro play.
Down on Lenox Avenue the other night
By the pale dull pallor of an old gas light”
—Langston Hughes (1902–1967)
“I always put these pert jackanapeses out of countenance by looking extremely grave when they expect that I should laugh at their pleasantries; and by saying Well, and so?—as if they had not done, and that the sting were still to come. This disconcerts them, as they have no resources in themselves, and have but one set of jokes to live upon.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)