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Last Week In Petroleum - Dec. 21, 2011

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THIS WEEK IN PETROLEUM REPORT RELEASE – December 21, 2011

This Week In Petroleum

Arctic Oil and Natural Gas Potential

According to an assessment conducted by the U.S. Geological Survey (USGS), the Arctic holds an estimated 13 percent (90 billion barrels) of the world's undiscovered conventional oil resources and 30 percent of its undiscovered conventional natural gas resources. While risks associated with economics, the region's harsh environment, and ongoing territorial disputes are considerable, potential rewards are immense.