n 1923 President Warren Harding set aside 23 million acres in the middle of the U.S. Arctic as a petroleum reserve. The National Petroleum Reserve-Alaska, or NPR-A, is magnificent and its oil resource potential is world class.
In 2002 the U.S. Geological Survey estimated 10 billion barrels of undiscovered oil in the reserve. While that number was downgraded to 900 million barrels in 2010, exciting new discoveries at the Nanushuk and Willow prospects indicate the 2002 estimate was likely more accurate, and might even be too conservative.
More…
