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Oil companies and USGS to look for oil under receding polar caps

As the Arctic ice caps shrink due to the warming of the planet, it's expected that vast reserves of additional oil and gas will become available, as approximately 25 percent of the planet's petroleum is thought to lie under the polar ice caps. In an effort to map these hydrocarbon resources, the US Geological Society (USGS), BP, and Statoil will be heading far north to conduct widespread surveys next year.