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Dwindling oil supplies mean exploration drilling is moving to far-flung reaches of the Earth. What difficulties does this pose, and what could the environmental impacts be?Key facts
- In the USA, extraction of crude oil is declining and consumption is increasing.
- Easily accessible crude oil supplies have been largely exhausted, and oil is hard to find.
- It is estimated that Greenland could hold 50 billion barrels of oil and gas.
- Oil excavation from remote areas would be damaging to the environment and expensive.
Transcript
Texas, USA
Jim Henry, Henry Petroleum – "Most of the wells in this area produce about 7 barrels per day, this well once produced 100 barrels per day about 30 years ago. Since then it's declined because it's only so much oil down in the ground so we're producing it all, ...
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