Posted on 25/07/08
Record prices put Arctic oil within reach
WASHINGTON -- Global warming and record high oil prices could put Arctic oil and gas into play much sooner than many people think, analysts and industry officials say.The significance of this week's groundbreaking U.S. Geological Survey report on the Far North's untapped potential is that it stretches the bounds of just how much crude may still be out there, said Kevin Book, an analyst at FBR Capital Markets in Arlington, Va.
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