Arctic Oil

I assume everyone already knew this, the Arctic has vast reserves of oil.

A new study suggests the equivalent of 112 billion barrels of oil lies undiscovered underneath the sea ice and frigid waters of North America’s Arctic, adding new urgency to the debate over control of those resources.

The report released Wednesday by the United States Geological Survey has for the first time put some hard numbers behind the energy potential of the North.

Total undiscovered global reserves north of the Arctic Circle are estimated at 412 billion barrels of oil equivalent — most off the coast of Russia. That’s about one-third of the world’s undiscovered gas and about one-sixth of its undiscovered oil.

“That’s huge,” said William Lacey, director of FirstEnergy Capital, a Calgary energy analysis firm. “It’s massive in terms of the resource.

“It highlights why there’s some potential boundary disputes in the North.”

And what do we have to show for it, a loser from San Francisco and Harry Reid another loser from Nevada, who wants to drive the country into the sewer of environmental Marxism? Who made these freaks king? America is a representative republic, not a dictatorship.

Oh yeah, someone tell the EIB clown, Boxer that the AGW theorey is dead, deader than can be. All that is left is for it to fall over on it's face.

Read the rest here.