Alaska Reserve’s Oil Estimate Reduced About 90% by U.S. Agency
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The National Petroleum Reserve in Alaska may hold only about 10 percent of the untapped oil it had been thought to contain, the U.S. Geological Survey said.
There are 896 million barrels of conventional, undiscovered oil in the area, compared with a 2002 projection of 10.6 billion, the agency said today on its website. The revised estimate stems mainly from new data showing gas, not oil, in much of the reserve, according to the survey.