ANWR: Things We Need to Know

Picture courtesy of Arctic Power

For more information: http://www.anwr.org/

History

1960 Arctic National Wildlife Range – 8 million acres original

1964 Wilderness Act –defines “wilderness”, “refuge” terms = no development allowed

1977 Trans-Alaska Pipeline (TAPS) comes online

1980 ANILCA –Alaska National Interest Lands Conservation Act - expanded ANWR.

      8 million acres “wilderness” area

      9 million acres “refuge” area

      1.5million – “10-02” area (8% of total ANWR) “for the study of oil & gas      exploration”

      (ANWR total area now 19.5 million acres)   

1983-85 – 2D seismic survey done of 10-02 Area (very outdated technology)

1995 – Clinton vetoes Balanced Budget Act –included successful Congressional ANWR  vote (ANWR would be producing today if not vetoed)

1998- USGS releases ANWR report (based on 2-D seismic)

5.7mb (95%)  10.3mb(mean)  16mb(5%) @ $24pb

                  @ 10.3mb = 1-1.5mbd = 30 years.

Based on an assumed recovery:

Technical - 37% now 65% Economic- $30pb<> 

@10.3bb X $90pb = $968,200,000,000

2005- USGS updates ANWR report –acknowledges technological production advances /  economics would push 1998 report recoverable reserves estimates up.

2007 Prudhoe Bay pumps 15 billionth barrel of oil! – (1975 original estimates 4-9bbls)