Less Alaskan Oil Than Originally Thought

By Rachel D'Oro, Associated Press

ANCHORAGE, Alaska (AP) — Federal scientists say the National Petroleum Reserve-Alaska contains less than one-tenth of the amount of oil they previously estimated.

The U.S. Geological Survey says new data puts the new estimate at 896 million barrels of oil, compared with the agency’s 2002 mean estimate of 10.6 billion barrels.

The USGS also has cut its estimates of natural gas in the sprawling reserve, from a mean estimate of 61 trillion cubic feet to 53 trillion cubic feet.

The agency’s 2002 estimates ranged from 5.9 billion to 13.2 billion barrels for oil and 39 trillion to 83 trillion cubic feet for natural gas.

The USGS says its new numbers are based on factors including seismic surveys and drilling of more than 30 exploration wells.

Comments

Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Boston

WheelMobile
Download Our App

Listen Live