Arctic Oil and Gas Development
The CSIS Energy and National Security Program hosted the final session in its Impacts of the Gulf Oil Spill Series, which evaluated the development of Arctic oil and gas resources.
The oil and gas resources of the Arctic region represent one of the most promising, largely untapped hydrocarbon resources in the world. A 2008 U.S. Geological Survey study estimated the recoverable oil resources of the Arctic region at 90 billion barrels, about 13 percent of the world’s remaining oil resources and the gas resource at 1,670 trillion cubic feet, about 30 percent of the world’s remaining gas resource. These oil and gas resources are located throughout the Arctic region and each of the five Arctic nations has prospective areas. However, the development of these oil and gas resources faces a number of daunting issues.
The conference examined several key issue areas including: the state of play in development plans and activities in each of the Arctic countries, oil spill risks, and the possibilities for international cooperation to reduce the risk of major accidents and contain accidents that do occur.
Panel Discussions covered:
Development and Infrastructure Options in Alaska's Arctic and Market Challenges
International Arctic Resource Developments and Opportunities
Environmental Challenges for Arctic Development
Senator Lisa Murkowski, Senior Republican Member, U.S. Senate Energy and Natural Resources Committee
David J. Hayes, Deputy Secretary, U.S. Department of the Interior
Frances Ulmer, Chair, U.S. Arctic Research Commission
A detailed agenda is available on the righthand side of the page.