Arctic holds 90 billion barrels of oil: U.S. survey
WASHINGTON -- The Arctic Circle holds an estimated 90 billion barrels of undiscovered, technically recoverable oil and 1,670 trillion cubic feet of natural gas, the U.S. Geological Survey said on Wednesday.Of course all those numbers are totally meaningless as noone knows how much oil is there. It's almost certainly infinite as far as human beings and quantification are concerned. Hydrogen is the most common element in the universe and carbon is the fourth most common element in the universe. "It is obvious that the total amount of petroleum in the rocks underlying the surface ... is large beyond computation." -- Edward Orton, 1888
The Arctic accounts for about 13% of the world's undiscovered oil, 30% of the undiscovered natural gas, and 20% of the undiscovered natural gas liquids, the agency said in the first publicly available petroleum resource estimate of the entire area north of the Arctic Circle.