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Murkowski asks Senate to swiftly ratify Law of the Sea treaty
05/26/2008
The US could forfeit several billion barrels of oil equivalent if the Senate doesn’t ratify the Law of the Sea treaty soon, warned Sen. Lisa Murkowski (R-Alas.) in a May 8 floor speech.Noting that she has spoken frequently about the 10-16 billion bbl potential beneath the Arctic National Wildlife Refuge’s coastal plain, Murkowski said “an unquantifiable amount of resource may lie—even further to the north, beyond ANWR, off the coast of Alaska and beyond.”She said the US Geological Survey estimates that the Arctic Ocean may cover 25% of the world’s undiscovered oil and gas resources. That number, based on a 2000 assessment of a few Arctic basins, could pr...
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