Massive Oil Reserves in Arctic breed competition

Winningreen Energy Alert 

Massive oil reserves in Arctic breed competition environmentalists may cause us to lose

By Gretchen Randall

Date: July 24, 2008

Issue: The U.S. Geological Survey has concluded a study that estimates the area north of the Arctic Circle contains 90 billion barrels of recoverable oil, 1,669 trillion cubic feet of natural gas and 44 billion barrels of natural gas liquids, such as propane, used for home heating. About a third of the undeveloped oil reserves lie in Alaska territory and 84% of the undiscovered oil and gas resources are offshore. The study concludes, “the extensive continental shelves may constitute the geographically largest unexplored prospective area for petroleum remaining on Earth.” The authors excluded unconventional sources such as oil shale, coal bed methane and tar sands. (Access the entire study at: http://www.usgs.gov/ )

Russia claims that part of the underwater continental shelf is connected to Russia and therefore oil exploration rights under the North Pole belong to Russia. The U.S. and others dispute that claim.

Environmental groups have already delayed exploration by Shell off the coast of Alaska and further lawsuits can be expected to halt or delay exploration both off Alaska and in Canada’s Beaufort Sea.

Response: Democrats and their allies, the environmental groups, don’t want any type of energy — no oil or gas exploration, no nuclear, no wind (might kill the birds), no ethanol (uses food for fuel), no coal (it’s dirty), and no shale. They may like electric cars now but just wait until we need to build more power plants so you can plug them in at night. Then, we predict, they won’t won’t new electricity plants built either.

Contact: Gretchen Randall
Winningreen LLC
3712 N. Broadway – PMB 279
Chicago, IL 60613
Phone: 773-857-5086
e-mail: grandall@winningreen.com