One of the Professors I worked with, she worked for Shell oil and consulted for BP. She showed me an area off of the Greenland/Icelandic divide where there "is", (not a guess) "BILLIONS" of gallons of oil. The problem is two fold, "weather and politics", Imagine that!
That's methane gas- greenes been bitchen about the amount the cows produce - can't never satisfy them types - guess the would rather have tofu steaks .
politics are not a real problem - put enough grease in the right hands and it magicly goes away, on the other hand Mother Nature is just down right nasty in those parts.