ANWR's Index Estimated barrels of oil, in billions, that are economically recoverable in the ANWR: 5.3 2-D seismic exploration was conducted in the winters of 1984-85 to determine the extent of oil and gas resources in the 1002 area. That report (the 1987 Coastal Plain Report and LEIS) detailed the amount of oil that may be economically recoverable in the 1002 area of the ANWR. "Economically recoverable" oil is a somewhat confusing term. Basically, you have to spend money to get the oil out, and if the price of the oil you extract is higher than the cost required to pull it out, then it is "economically recoverable." Obviously, this fact depends on the price (or projected price) of oil. The amount of economically recoverable oil also depends on the nature of the oil field. Oil is not in a big sack underground--there may be 100 millions barrels actually there, but only a portion of it is easily (or economically) recoverable. There can also be a fair amount of conjecture about the amount that is in there, recoverable or not, due to the nature of seismic exploration. So, there is also often a percentage expressed with an amount of recoverable oil, which demonstrates the likelihood that the perceived oil is there at all. It's sort of like looking for your watch on the bottom of a swimming pool. You can stick your face in the water in ten different places to get an idea of where it is, or you can stick your face in every four inches to get an idea of where it is. It's just a matter of how much time and money is worth investing to find your watch. How much would you invest if you knew your watch will sell for the price of a Rolex, versus a Timex? sources: US Fish and Wildlife Service ANWR website. (A PDF of this report can be found at this link.) return to index