Wednesday, April 30, 2008

Drilling for OIL in Alaska's ANWR

For my REFerence, some quick facts related to Drilling for CRUDE OIL in the Artic National Wildlife Refuge (ANWR) :


*In terms of RESERVES, a 1998 U.S. Geological Survey stated that there is a 95% probability that the crude oil reserves in ANWR amount to about 5.7 Billion barrels (there's a 5% probability the reserves amount to 16 Billion barrels)...For some perspective and per my 'WORLD's LARGEST CRUDE OIL RESERVES' post dated 3/26/08, Saudi Arabia has about 260 Billion barrels of CRUDE.

*In terms of PRODUCTION, if effectively drilled, this site could contribute anywhere from 700K to about 2.0 million barrels of production a day...The U.S.'s daily demand/consumption of crude is 21 million barrels a day...Saudi Arabia is currently producing about 9 million barrels per day.


* The Total AREA of the Alaskan wildlife refuge consists of approx 19 million acres...8% or 1.5 million acres are referred to as the '1002 Area', this is the area where most of the oil drilling controversy in ANWR resides...8 million acres are federally designated + protected as 'Wilderness Area' under the Wilderness Act of 1964...10 million acres are designated as 'Minimal Management' + according to Wiki, represent "a category (or section of land) intended to maintain existing natural conditions and resource values"


Data Courtesy: CNBC + Wikipedia