Race to the Arctic: The New Source of Oil and Gas?

U.S. Geological Survey suggests that the area north of the Arctic Circle has an estimated 1,670 trillion cubic feet of natural gas – 2/3 the proved gas reserves of the entire Middle East – and 90 billion barrels of oil. Most of the gas is concentrated in Russian territory

Wood Mackenzie suggested that Arctic basins, hold 233bn of discovered oil and gas and another 166bn that has yet to be found, the vast majority of it gas