EIA report: Arctic oil and gas potential - Alaska Dispatch

Yesterday, the U.S. Energy Information Administration released its findings and conclusions about oil and gas development's potential in the Arctic region. The report is quite long and full of charts and tables, but here are a few meager text highlights:  "Of the 18 large Arctic fields outside Russia, 6 are in Alaska." And, "The fact that the Arctic is particularly rich in natural gas and natural gas liquids may impede the exploitation of its resources" because of transportation costs and the distance to market. But, "The Arctic Alaska region is estimated to hold the largest undiscovered Arctic oil deposits, about 30 billion barrels." And, from the report's "conclusions" section: "The good news is that the Arctic holds about 22 percent of the world’s undiscovered conventional oil and natural gas resources ... " The bad news? Well, there's a numbered list of four bummers which many of you can probably guess: Transportation, development and environmental costs, plus unresolved sovereignty issues. Read the report here .

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