Saturday, January 5, 2008

Alaska Oil Exploration

US mineral management service will accept bids to issue exploration rights in north-western region of Alaska. This area is on Chukchi Sea. But this area is home for one of two populations of polar bears in the US. The number of this polar bear is depleting due to decrease of habitat with global warming. Environmental groups are protesting on the decision to issue rights of exploration.

The researches says that American sectors of the Chukchi Sea hold 15 billion barrels of recoverable oil and over two trillion cubic metres of natural gas. US mineral management had not issued rights since 1991 due to difficulties & cost involving in extraction in that area and environmental issues. But now they have decided to issue rights.

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