Big Oil’s Global Power Grab. Devastating Environmental and Social Consequences | Global Research
Big Oil’s Global Power Grab. Devastating Environmental and Social Consequences | Global Research
Estimates from the US Geological Survey maintain that the Arctic
contains some 90 billion barrels of oil and 44 billion barrels of
natural gas, totaling 30 percent of the world’s untapped gas reserves.
The Beaufort and Chukchi Seas have the potential to produce 500,000
barrels of oil each day. These are tantalizing numbers for prospective
oil companies just itching to explore the vast underwater seabed
reserves that promise even higher profits than their already record
breaking pace in recent years.
