Alaska's Buried Treasure

According to the U.S. Geological Survey,Alaskan waters cover more hydrocarbons than was previously understood.It had been supposed that the Chukchi Sea area held 30 billion cubic feet of natural gas.Now the USGS thinks there is far more natural gas there.They estimate the Chukchi field contains 30% of the world's undiscovered total,or 1.6 trillion cubic feet.As well,some 4% of the world's undiscovered oil is now believed to be under Chukchi-about 83 billion barrels.
The Chukchi Sea is off Alaska's northwest coast,roughly between Point Barrow and the Seward Penninsula.It is bisected by the International Date Line,with Russia being on the other side of the line.The U.S.Congress has yet to approve exploitation of the resource,while Russia is going ahead with the activity.Critics of Congress point out that alternative energy is still in its infancy.It will be at least several decades before it is viable,they contend.Alaska has the energy resources we can use today,Governor Sarah Palin insists.Environmentalists are concerned that development in the area will harm wildlife such as polar bears.