Arctic Might Have 90 Billion Barrels of Oil

If that is true, that is a 12-year supply for the United States. This report is in conflict with a Russian report that claims there is much less there. There is an for all intents and purposes unexplored in the artic for petroleum. This is the largest unexplored area for petroleum on Earth. Based on the history it takes about 10 years for reserves to get to market. This study used about 8.2 million square miles above the Artic circle, with comparable distinctiveness to oil and gas finds in the rest of the world. There is an exact set of conditions to create oil, they do not just happen, and they are not everywhere. The good part of the study is it only considered finding that use existing methods so the number is attainable. This is on top of the 240 billion barrels that is in 400 fields that have been capped. They are not being drilled because of the lack of pipeline and shipping stations. There is a report that demand for oil is up to over 86 million barrels a day. The United States uses over 7.3 billion barrels a year. The only truth is once it is gone there is no more. This is a Math equation and it does have a result.

Scrounging’ for change, To put some money in your pocket
My how scratch does burn

W. Axl Rose 1991