The question one has to ask is why our gov’t would prevent its citizens from $1 gallon gas, massive tax revenues, 10’s of thousands of jobs, and most importantly, the ability to choke off the islamofascist middle east from their petro dollars?I have written on FR about the Chukchi for the last 3-4 years and it seems even FReepers are blind to the riches we may have within our grasp. The Chutchi may be in frigid Arctic waters, subject to ice and fierce storms,
Great project and I hope it pans out but how does this translate into $1 gasoline for American citizens? Maybe you can tell be better but I think most of it would be sold on the world market and be refined elsewhere. Where does Alaska oil go these days? It is sent to other countries (so I belive)
Where does Alaska oil go these days? It is sent to other countries (so I belive) Alaskan oil is used in the US. That has been the case for all the years of North Slope operation except for a few years around 1996-2000. At that time there was a glut of oil on the US West coast where the oil is normally sent to be refined. Even then only ~5.5% was shipped overseas.
I never understood why people pushed this myth. Have you looked at a map? The lower 48 is far closer than any market in Asia. And the west coasts imports lots oil.
It is 3,577 miles from Valdez, Alaska to Tokyo, Japan.
It is 1,274 miles from Valdez, Alaska to Anacortes, Washington. (largest Washington refineries)
It is 2,253 miles from Valdez, Alaska to El Segundo, California (major refinery near Los Angeles)
This one deposit Shell controls may hold 77 BILLION BBLs A find that size is 1/3 rd of the Saudi’s ‘proven reserves. A find that size would put huge downward pressure on world oil markets no matter where it was sold. Maybe not $1 gas because of all the excise taxes the fed and state gov’t levy, but cheap gas nonetheless. Ammanutjob could block the Straits of Hormuz and would not bother us. Keep American $ at home, creat 1000’s of great jobs,give us true energy independance, and raise massive tax revenues for the federal gov’t. If there are 77 billion bbls at $100 bbl that is half the size of the federal deficit, that gives you and idea just how massive this deposit could be.