Quote:
Originally Posted by X5rolls
Yes, that is unfortunate. Big bells should be ringing. This puts a big priority on further exploration in Alaska, the continental US and our coastal waters IMO. We have to get a handle on what reality is. Quickly.
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The down-estimate was a product of a significant exploratory drilling program. There doesn't seem to be the political will on either side of the spectrum to drill in the ANWR, and extrapolating from the findings documented above, it may not ever be worth drilling there.
Knowing that vast parts of Alaska do not have the oil that they were previously supposed to have, perhaps effort could be put into starting to affect demand.
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