Having worked for years in the oil industry, and because I paid attention, a friend asked me where the next "real big" oil discovery might be made.
So I said "Antarctica." He said, "But isn't that protected by treaty?" I said, "That's not what you asked me."
Based on accessibility factors, the Antarctic area widely considered to hold the greatest potential for oil exploitation is the continental shelf.[66]
One estimate postulates that fifty billion barrels of oil,[67] an amount roughly equivalent to Alaska's entire estimated reserves, lies under the
Weddell and Ross Seas alone.[68] Other estimates by the former Union of Soviet Socialist Republics' hydrometeorological service[69] and the Japanese
Plan Antarctic Survey[70] give similar projections. One estimate goes so far as to put potential deposits as high as 203 billion barrels.[71] This is
staggering in light of the fact that the total historic domestic United States production to date is under 200 billion barrels.[72] Additional studies
have found heavy hydrocarbon[73] residues in the Antarctic areas of McMurdo Sound[74] and Bransfield Strait.[75] The real question thus becomes not
whether oil deposits exist, but whether they will be found, and if discovered, whether they can be economically extracted.[76]
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Also,
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