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.
I would like to read more about that claim if you have a link.
I believe you are refering to the possible reserves for the entire Chukchi Sea, not Shell's single field.
http://www.offshore-technology.com/projects/chukchiseapermit/
Chukchi Sea reserves
The total reserves of the sea area are estimated to be in the range of four to 77 billion barrels of oil equivalent energy (boe) as per the MMS.
And that is the upper possiblity from a low of 4 billion.
Actually, the Burger field is not expected to contain oil at all. It is primarily a natural gas field with condensates (natural gas liquids and very light liquid hydrocarbons).
Summary of Economic Study of the Burger Gas Discovery, Chukchi Shelf, Northwest Alaska
http://www.alaska.boemre.gov/re/BurgerResources/Burger%20Fact%20Sheet.pdf
(sorry, I didn’t find this one until after my last post, I should have searched first)