Energy Literacy Advocates Newsroom
Geological Survey Reduces Alaska Oil Estimates
Wednesday, December 1, 2010
A little over a month ago the U.S. Geological Survey reduced their estimates of oil reserves at NPRA (the National Petroleum Reserves - Alaska) by a whopping 90% (10.6 billion estimated in 2002 to 896 million now - wow!). While this didn't receive a lot of press coverage it is significant in that most post-oil planning is based on government figures. While most often these figures come from the Energy Information Administration, the U.S. Geological Survey is tasked with estimating U.S. oil reserves.
This is a good lesson in the volatility of oil reserve estimates, and why caution must be exercised when evaluating our future energy needs.
Read the article here.
This is a good lesson in the volatility of oil reserve estimates, and why caution must be exercised when evaluating our future energy needs.
Read the article here.
Labels: oil supply/demand, u.s. energy policy
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Jamie Lang
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