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Last updated on April 19, 2014 at 18:42 EDT

Latest Arctic Holds Oil and Gas Stories

2008-07-23 18:00:48

The U.S. Geological Survey estimated the Arctic holds 13 percent of the world's undiscovered oil and 30 percent of its undiscovered gas, a report said. The report, the first U.S. government estimates of energy reserves in the area, could intensify the race for control of the polar regions among the United States, Russia, Norway, Canada, and Denmark, the Financial Times reported Wednesday. The reserves include 90 billion barrels of oil and 1.699 billion cubic feet of natural gas - a larger...