06 Dec '17, 11pm

Republicans are using some very shaky math to justify drilling in the Arctic refuge

Beyond this uncertainty on how much drilling would actually deliver into state and federal coffers, the bigger issue might be that it’s not even clear if oil companies still want and are willing to drill in the ANWR — a contentious and also costly site for oil extraction. Due to differences in how the oil is held in the ground, oil production in the Arctic costs, on average, $78 per barrel, while production in the lower 48 states ranges from $40-60 per barrel, according to Murphy’s analysis. Moreover, there is no existing oil extraction infrastructure located on the reserve, and building wells from scratch would cost, on average, more than $6 million per well, according to data from the U.S. Energy Information Administration. That doesn’t even take into account the headache that environmentalists and natives-rights activists could create for oil companies, if not potential...

Full article: http://grist.org/article/republicans-are-using-some-very-...

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