The region also holds nearly 1,700 trillion cubic feet of natural gas, 27% of known world gas reserves. Counting known deposits already surveyed, total oil and gas deposits in the Arctic are more than 410 billion barrels.
The study, known as CARA -- Circum-Arctic Resource Appraisal -- included only those deposits that could be tapped with current technology. Future advances would likely boost the number further. Researchers in Denmark, Greenland, Canada, and Norway contributed data to the study.
According to project chief, Donald Gautier, "The extensive Arctic continental shelves may constitute the geographically largest unexplored prospective area for petroleum remaining on Earth."
A geopolitical scramble for the resources is beginning. Russia has taken steps to secure rights to the region, last year sending a nuclear-powered ship to map a possible undersea connection between Siberia and the North Pole. This would allow the nation a rationale to circumvent the UN 200-mile limit of offshore resource claims.
Seven other nations have claims for the area, including Norway, Sweden, Canada, and the U.S. Earlier this month, Canadian Prime Minister Stephen Harper said the nation intends to "defend" its sovereignty in the Arctic, backing up the statement with a plan to divert 8 military patrol ships to the region, along with a new deep-water port.
quote: It might not be the same for energy but even if 1 in 10 people think like this then we're in trouble.
quote: I find it odd that Europeans are quick to condem Americans for oil gluteny. After all, European economies are as oil bound as any.
quote: and I still don't think you're giving solar enough credit. ask anyone in the solar industry how much of a difference their products make on their customer's energy bills and I'm sure you'll get some decent figures.
quote: no, it's not. energy savings pay you back constantly. there is an upfront cost, but over time they pay for themselves and eventually turn a profit.
quote: You're throwing a red herring here. Nuclear is viable. All it takes to build the plants is the will to do so. One stroke of a pen on the right desk, and the problem is solved.Solar isn't viable, however, for very real, technical reasons.
quote: R&D existed, but it never amounted to anything.
quote: Doesn't it make more sense to save that money, and instead spend it on something more useful...like more research to improve the alternatives?
quote: Gasoline in Europe is far more expensive than in the US, they are also a leader in alternative energy.
quote: BERLIN'S POLITICAL CONUNDRUM Voters Furious over Surging Energy Prices In 1997, the Germans spent €69 billion ($107 billion) on electricity, heating and fuel. By 2007 -- a year with a warm winter -- that combined figure had increased to €95 billion ($147 billion)...
quote: maybe 14% is considered a "tiny fraction" but you need to start somewhere.
quote: I understand that if the US is crippled by oil prices then it doesn’t have much to spend on alternatives. I may have been mistaken, but it seemed like the idea was if we had cheap oil prices we would already have alternatives, which doesn't make sense because there would have been no necessity for it. If the price of oil is low the market won't support more expensive alternatives just because "it's the right thing to do."
quote: If we're spending the money on gas, we CAN'T spend it on anything else.
quote: You can eliminate electric vehicles as a potential market and there would still be a multi-$Billion demand for better batteries possessing all of those qualites for the well established markets of portable computing, entertainment, communication, and medical devices. All of those products have constantly demanded better batteries or alternate power sources without a dramatic rise in fuel prices.This is also why conspiracy theorist who think the oil industry is suppressing better batteries are simply insane.
quote: Necessity is the mother of invention.
quote: profit is almost as powerful a motivator as necessity.
quote: Make something that is not needed and tell me how much you profited from it. The reason the profit exists is because the invention was needed.
quote: Is that why we had all those electric cars, hybrid vehicles, efficient solar panels in the 80's and 90's?
quote: Earlier this month, Canadian Prime Minister Stephen Harper said the nation intends to "defend" its sovereignty in the Arctic, backing up the statement with a plan to divert 8 military patrol ships to the region, along with a new deep-water port.
quote: I haven't heard much about the CF training, but I assume the infantry is more or less about as train as most first world countries.
quote: ..but who's snipers have the most war experience.
quote: Canadian forces are basically special forces when compared to US marines or the US army, not to mention we have the best snipers in the world.
quote: To pretend anyone could guess at undiscovered resources in such precision is as naive as banks lending mortgage money to folks with no money."
quote: I'm with T Boone Pickens, lets get the hell off the Oil drug
quote: C: So...Spending $75 Billion to make rigs and extra refinaries, + cost of oil transportation + cost of new oil rigs + cost of exploration (repeat each time a new oil well is found) is LESS EXPENSIVE than a one time cost for total energy independence?
quote: OK, cut the BS. When was gas / oil ever at 1.50USD / bbl? And who is this 'we' you keep talking about?
quote: High prices are the only incentive for people to change what they do. Thats why I support doing what Europe did, and putting a mandatory $6 a gallon floor on gas prices, until the US is running on at least 30% alternative energy.
quote: Russia has taken steps to secure rights to the region, last year sending a nuclear-powered ship to map a possible undersea connection between Siberia and the North Pole. This would allow the nation a rationale to circumvent the UN 200-mile limit of offshore resource claims.
quote: I hope that was sarcasm. Either way it cracked me up!
quote: while the pro-business fork would be several decades more advanced technologically.
quote: Canadian Prime Minister Stephen Harper said the nation intends to "defend" its sovereignty in the Arctic, backing up the statement with a plan to divert 8 military patrol ships to the region, along with a new deep-water port.