Article: http://www.dailytech.com/Geologists+Find+90+Billion+New+Barrels+of+Oil+in+Arctic/article12481.htm
Race to claim begins
The Arctic may hold far more oil than previously thought; as much as 90 billion undiscovered barrels according to a new study released today by the US Geological Survey. The new amount, equivalent to nearly 20 years of US foreign oil imports, is worth over $11 trillion dollars at current oil prices . One third of the amount may lie in Alaska alone, according to the study’s authors.
The region also holds nearly 1,700 trillion cubic feet of natural gas, 27% of known world gas reserves. Counting known deposits already surveyed, total oil and gas deposits in the Arctic are more than 410 billion barrels.
The study, known as CARA — Circum-Arctic Resource Appraisal — included only those deposits that could be tapped with current technology. Future advances would likely boost the number further. Researchers in Denmark, Greenland, Canada, and Norway contributed data to the study.
According to project chief, Donald Gautier, “The extensive Arctic continental shelves may constitute the geographically largest unexplored prospective area for petroleum remaining on Earth.”
A geopolitical scramble for the resources is beginning. Russia has taken steps to secure rights to the region, last year sending a nuclear-powered ship to map a possible undersea connection between Siberia and the North Pole. This would allow the nation a rationale to circumvent the UN 200-mile limit of offshore resource claims.
Seven other nations have claims for the area, including Norway, Sweden, Canada, and the U.S. Earlier this month, Canadian Prime Minister Stephen Harper said the nation intends to “defend” its sovereignty in the Arctic, backing up the statement with a plan to divert 8 military patrol ships to the region, along with a new deep-water port.
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Duration : 0:2:11
Gas prices are rising, demand for oil is rising, and yet oil production stopped rising over three years ago. Peak oil may be here, and it’s taking us unprepared.
The reality of oil depletion is undeniable. Volumes of publicly available data, collected over many decades, demonstrate that the world may have reached the point of maximum oil production. Despite the clarity of the facts and data, leaders in government, industry, and business are reluctant to articulate and address the enormous challenges that a declining oil supply will have on the world economy – and the urgent steps that should be taken to mitigate shortages of our most valuable energy source. This video features industry veterans Sadad al-Husseini, Jeremy Gilbert, Jeremy Leggett, and Chris Skrebowski, who discuss why governments and business are reluctant to face up to the realities of peak oil.
Four leading petroleum industry experts discuss the major production challenges posed by peak oil. While new fields are being discovered, the steady pace of depletion, a growing world population, and diminished investment in new exploration and production point to a constrained world oil supply in the next few years. This video features Sadad al-Husseini, Jeremy Gilbert, Jeremy Leggett, and Chris Skrebowski.
http://www.EnergyTomorrow.org Crude oil is not ready for consumption right after it is extracted. It takes a complex refining process to transform crude oil into a usable substance for fuels and manufacturing products. Visit http://www.EnergyTomorrow.org to learn more about the refining process.
http://www.EnergyTomorrow.org See how the oil and natural gas industry uses technology to extract oil from harsh environments to provide America with the energy it needs. 
When the Alaskan oil pipeline springs a leak, it is a major problem; so Riley gears up to learn how to fix it.
A Quick 3 minute video visually explaining Peak Oil, what oil is used for, and what the future may hold with regards to Peak Oil.
Risk assessment with the following approach:
The approximately 145 operating petroleum refineries in the United States account for significant releases of pollution into the environment and many threats to worker health and safety. The petroleum industry began with the successful drilling of the first commercial oil well in 1859, and the opening of the first refinery two years later to process the crude into kerosene. The original requirement was to produce kerosene as a cheaper and better source of light than whale oil. The development of the internal combustion engine led to the production of gasoline and diesel fuels. The evolution of the airplane created a need first for high-octane aviation gasoline and then for jet fuel, a sophisticated form of the original product, kerosene. Present-day refineries produce a variety of products including many required as feedstock for the petrochemical industry. The evolution of petroleum refining from simple distillation to today’s sophisticated processes has created a need for health and safety management procedures and safe work practices. To those unfamiliar with the industry, petroleum refineries may appear to be complex and confusing places. Refining is the processing of one complex mixture of hydrocarbons into a number of other complex mixtures of hydrocarbons. The safe and orderly processing of crude oil into flammable gases and liquids at high temperatures and pressures using vessels, equipment, and piping subjected to stress and corrosion requires considerable knowledge, control, and expertise. For more on the workplace and environmental hazards at oil refineries, go to the OSHA website at http://www.osha.gov/dts/osta/otm/otm_iv/otm_iv_2.html#1 and the EPA at http://www.epa.gov/oig/reports/2004/20040622-2004-P-00021.pdf