About Those Arctic Oil Reserves

Who knows what's really there? It could be much more, or much less, than current reports indicate.

FT writes:

No one knows the extent of US oil and natural gas reserves in the offshore and Arctic areas that are off-limits to drilling. The last time they were surveyed was in the 1980s and the technology then used is no longer considered accurate, say industry experts.

“The youngest seismic [tests] in some of these areas is 25 years old,” said Bobby Ryan, Chevron’s vice-president for global exploration.