Saturday September 30, 2006

The Arctic: Oil's last frontier

peakoil.com -> money.cnn.com :

The sea under the Arctic polar cap is unlikely to remain largely untapped for long - governments and corporations are racing to carve up the Arctic oil pie, which according to a USGS study may contain 25% of all untapped reserves. With it comes the sticky and as yet unanswered political questions over which countries have rights to which fields and whether this development can be pulled off without too much environmental and social damage.

Then there's the matter of drilling itself. The Arctic ice pack, three to 10 meters thick and always shifting, poses significant challenges. The solution involves heavy reinforcement of rigs or drill ships and using steel that is less brittle, as normal steel can easily break at temperatures below 20 degF (-6.6 degC). Whether even the reinforced rigs survive is a concern for environmentalists, who fear the ice could cause a spill by damaging equipment and make a cleanup next to impossible.

And there's also a feeling that drilling in the Arctic, made possible largely by global warming at least partially caused by burning fossil fuels, is perverse. "It just feeds a vicious cycle," said Athan Manuel, director of lands protection for the Sierra Club. Manuel said meeting the world's energy needs should first start with a serious commitment to conservation combined with expanded use of cleaner technologies. "More drilling is not the solution," he said. "We think this is a terrible idea."

See also :

1. Scientists shocked as Arctic polar route emerges
2. Scramble to unlock Arctic's energy potential
3. Arctic meltdown = oil, shipping & fish

(2006-09-30 19:56:51 SGT) [Energy] Permalink

Most popular blog postings on lowem.log :

1. 2010 Nissan Leaf electric car specifications : 107hp, 24KWh lithium-ion batteries, 100-mile range
2. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
3. 2010 Honda Civic Hybrid preliminary specifications released
4. Singapore SIBOR rate falls to 0.69% in Jan 2009, lowest since Apr 2004
5. How to insert currency exchange rates into Google Spreadsheets
6. Singapore : Nuclear power not ruled out
7. Live spot gold price quotes chart on COMEX
8. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option

Featured articles on lowem.log :

1. 2010 Honda Civic Hybrid preliminary specifications released
2. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
3. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
4. Honda, GS Yuasa JV to make lithium-ion batteries for 2010/2011 Honda Civic Hybrid
5. New efficient nanotech materials may boost enhanced geothermal power systems
6. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
7. Singapore property market recovery seen as private home sales surge 52% in Jul 2009
8. Singapore SIBOR rate falls to 0.69% in Jan 2009, lowest since Apr 2004