13 percent of the world’s oil undiscovered oil seems to be in the Arctic. The simple reason why so much of it is still there is because we have had other, more easily accesible sources of oil that we have been able to utilize until now. Mounting pressures and with more access, it is more likely that we will begin tapping into these reserves.
The arctic accumulated the oil deposits that are there now over hundreds of millions of years due to tectonic plate movement and burial of organic carbon-rich rocks and marine sediment. It i speculated that these depositions and burials happened over three main tectonic events, each one providing more material that was forced downwards as the plates moved. Burial of rocks and sediment allowed for enough heat and pressure to generate the petroleum that is there today.
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