USGS: Up to 2 billion barrels of oil in North Slope Alaska

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USGS: Up to 2 billion barrels of oil in North Slope Alaska
from MarketWatch.com - MarketPulse
NEW YORK (MarketWatch) -- The U.S. Geological Survey estimates shale formations on the North Slope of Alaska could contain up to two billion barrels of recoverable oil and 80 trillion cubic feet of natural gas, according to a new study released on Friday. North Slope shales lie largely outside the environmentally-protected Arctic National Wildlife Refuge, the government said. The USGS said none of these regions has been tapped for production since they're so remote. "Better knowledge of the untapped resource potential found in all areas of the country will help us better make science-based decisions about how we continue to grow domestic energy production for America," Ken Salazar, secretary of the Interior, said in a statement. The study marked the first time the USGS has released reserve estimates for the region.