Arctic Oil and Gas Reserves Are Extensive and Accessible, Study Says

The Arctic region contains roughly 30 percent of the world’s remaining undiscovered natural gas reserves and 13 percent of the untapped oil reserves, according to a new study by the U.S. Geological Survey. The study, which took five years to complete and is the most comprehensive survey to date of Arctic energy reserves, estimated that about 1,550 trillion cubic feet of natural gas lies below the Arctic, enough to meet world demand for 14 years. The region also contains an estimated 83 billion barrels of oil, enough to satisfy global demand for three years. Most of the natural gas lies within Russian territory — which will only solidify that nation’s position as the world’s major producer of natural gas — while most of the untapped oil lies within Alaskan waters. The study, published in the journal Science, said most of the oil and gas lies offshore and under less than 1,500 feet of water, which makes it accessible to drilling. The findings are likely to further heighten the concern among environmentalists that, as Arctic sea ice rapidly disappears, the region will experience a rush to develop oil and gas that will threaten the sensitive Arctic environment and creatures such as polar bears and beluga whales.