Arctic Offshore Oil & Gas
The area north of the Arctic Circle may hold a significant amount of undiscovered oil and gas, up to 13% and 30%, respectively, according to the USGS (Gautier et al. 2009). According to that source, this resource probably lies in continental shelves at water depths below 500 metres (1,600 ft), which makes up about one third of that area. Also, more than 400 oil and gas fields had been identified up to 2007, most of them in Northern Russia and on the North Slope of Alaska.
Read more about this topic: Ice Scour
Famous quotes containing the words arctic, oil and/or gas:
“The chisel work of an enormous Glacier
That braced his feet against the Arctic Pole.”
—Robert Frost (1874–1963)
“Courage, determination, and hard work are all very nice, but not so nice as an oil well in the back yard.”
—Mason Cooley (b. 1927)
“A new father quickly learns that his child invariably comes to the bathroom at precisely the times when he’s in there, as if he needed company. The only way for this father to be certain of bathroom privacy is to shave at the gas station.”
—Bill Cosby (20th century)