Government Slashes Estimate of Alaskan Oil

The U.S. Geological Survey says the National Petroleum Reserve-Alaska contains less than one-tenth of the amount of oil it previously estimated. The government’s scientists say new data put the estimate at 896 million barrels, compared with the agency’s 2002 mean estimate of 10.6 billion barrels. The agency also cut its estimates of natural gas in the sprawling reserve, to 53 trillion cubic feet from 61 trillion cubic feet.

NYTimes