we're big fans of Earth Day. It is a wonderful scenic country area and home to Dinosaur World and a state park. There are dinosaur tracks from 100 million years ago along the riverbed that can be seen some say are heading in the direction of New York City
Tedd
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‘A Whole New World’
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"We have explorers in our history like Daniel Boone. The Russians have guys like Chilingarov, who for 40 years has been one of the leading Arctic explorers in the world," says Mead Treadwell, chairman of the U.S. Arctic Research Commission. "We've ignored the Arctic for years, sometimes at our peril."
At issue is whether the United States should ratify a treaty that governs ocean rights extending off the coastlines of nations, and thus the natural resources and fisheries that lurk below. Under international law, the United States already holds a 200-nautical-mile zone from its shores. According to an international treaty called the Law of the Sea, the United States could claim an even larger swath if it can show that the Alaskan continental shelf extends beyond the 200-mile limit.
But the United States is the only Arctic nation that hasn't ratified the treaty. "We do expect to become a party in the near future, perhaps this year or in the next couple of years," Margaret Hays, director of the oceanic affairs office at the U.S. State Department, told reporters in a conference call last week.
This month, the Coast Guard has already dispatched its cutter, Healy, northward of Barrow to map the Alaskan shelf, which may extend more than 600 miles from the shore---three times farther than the current limit. "We have at least a California-size territory to claim," Treadwell notes.
Oil is the major prize hiding beneath that vast territory, as dwindling oil discoveries and record demand have pushed explorers into more remote and more hostile regions.
Last month, the U.S. Geological Survey released a survey estimating that the Arctic may hold 90-billion barrels of oil and 1,670 trillion cubic-feet of natural gas, with a third of this being undiscovered crude off the shores of Alaska. That's enough oil to supply Americans for 12 years.
Oil companies have known for decades of the Arctic's potential, and two firms have already sunk huge investments to find the black stuff. London-based BP is set to become the first company to develop an offshore oil field in federal waters in the Alaskan Arctic. The company announced last month that it will spend $1.5 billion to extract 100-million barrels at its Liberty oil field, located six miles offshore of Alaska. Much of Alaska's federal waters have been open to oil exploration for decades, but the spike in prices, coupled with new drilling techniques--BP says it will drill the world's longest wells to tap Liberty--have companies rethinking the Arctic.










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