Offshore northern Alaska, mean estimates by the same groups peg discovered but undeveloped oil reserves at 1.2 billion barrels and undiscovered reserves at 8.6 billion barrels. With potential topping 25 billion barrels, Alaska should be one of the cornerstones of future US oil production. Whether it will depends largely on the outcome of the political debate currently raging between environmentalists and oil and gas development proponents over exploitation of the Arctic National Wildlife Reserve (ANWR), estimated to hold at least 11 billion barrels of oil.
Billion-barrel Alaska question Billion-barrel Alaska question
ALASKA represents a world-class oil and gas province by any measure with undiscovered onshore crude resources recently put at 15.5 billion barrels, based on mean estimates by the US Minerals Management Service and the state's Department of Natural Resources.
27 October 2000 0:00 GMT
Updated
27 October 2000 0:00 GMT