Wood McKinzie/Fubro Robertson Report - Arctic Reserves Can Never Replace OPEC

[hatrack]

HOUSTON (Reuters) - There isn't enough oil under the Arctic Circle to replace crude from OPEC, according to a study released on Wednesday by analyst group Wood MacKenzie and seismic research firm Fubro Robertson.

Under the circle, 233 billion barrels of oil equivalent in crude and natural gas have been discovered and 166 billion barrels of oil equivalent are thought to remain undiscovered, said the study's lead author, Andrew Latham, vice president of energy consulting at Wood McKenzie.

Eighty-five percent of discovered reserves and 74 percent of expected reserves is made up of natural gas, Latham said. "The oil-gas mix is not ideal because remote gas is often harder to transport to markets," Latham told reporters in Houston.

"In addition, export and technology constraints are expected to delay production as a large portion of the communal gas until 2050," he said.

EDIT

http://news.yahoo.com/s/nm/20061101/sc_nm/energy_arctic_study_dc_1

[Dead_Parrot]

1. So, we can stop melting it, now?

Didn't think so. Oh well.

[Jeffery]

2. geology

I actually suspect that, as George Noory believes, much of the Arctic warming and melting is geological, rather than part of climate change.