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Getting Oil Out of the Arctic 

Great article from National Geographic, with even better pictures than usual, detailing the difficulties of finding oil in the Arctic. 

In the Arctic’s Cold Rush, There Are No Easy Profits

THE HIGH PRICE OF ARCTIC OIL
Arctic oil is expensive to produce. Its break-even price—the price required to cover the cost of production—is exceeded only by that of oil sands, such as those in Canada, which require large amounts of energy to separate oil from sand.
Break-even price of known but undeveloped oil reservoirs
Per barrel, October 2015
The price of oil in December 2015 was $37 per barrel.
Oil sands
$79.3
Arctic
78.6
Shale oil, North America
68.1
Extra-heavy oil
66.9
Onshore, Russia
64.6
Ultra-deepwater
62.7
Deepwater
61.6
Offshore shelf
59.3
Onshore, rest of the world
58.9
Onshore, Middle East
43.7
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