It may be home to 12 billion barrels of oil, says James Cearley, Chevron's exploration manager.

FORBES: Magazine Article

"Changing lease-sale schedules disrupts the certainty and consistency that industry needs for planning such investments for leasing and ensuing exploration and development, " Geoffrey Haddad, ConocoPhillips' manager of Alaska exploration wrote in a letter to the Interior Department dated May 3.

WSJ: Drilling Rules Hit Alaska Pipeline

Jan Willem Eggink, Shell's South Africa general manager for exploration, says the company needs to explore to determine how it could extract gas from the region.

WSJ: South Africa Faces Power Shortage Despite Gas Reserves

"What we have is a world class oil field sitting below a world class city, " said John Martini, manager of governmental affairs for Plains Exploration and Production Co.

NPR: Oil Expansion Plans In L.A. Rile Residents