This is not a ‘boom’ in terms of the world oil market, it is more akin to a thermonuclear explosion.
Shell (and many other major oil companies) have known for years that the Beaufort and Chukchi contain the last easily exploited super fields on the scope of the great middle east fields. The reason this is not more widely known in the USA is our gov’t continues to shut down all efforts to drill there.
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?
The answer is the strange confluence of envirowackos, ethanol producers, alternative energy product manufacturers (think GE and their windmills and solar, and gov;t bureaucrats. You can also throw in probably some middle east money that is being pumped into the so called ‘green’ movement to hire lawyers to tie up any of our domestic energy projects like this in the US court system.
The fact this article is not in a US newspaper is all the proof you need that our citizens have been brainwashed by the political class to think we only hold 2-3% of the worlds oil reserves, when the truth is this one field in the Chukchi could be larger than any field ever discovered in America.
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, but the fact is the wells will be drilled in water HUNDREDS of feet deep rather than the BP well in the Gulf of Mexico which was in 1000’s of feet of water and drilled over a mile below the sea floor into a highly pressurized deposit.
The last line of the story says it all.............”. “They are in shallow water. They are at low pressure, and they have what we call a margin. It gives you a lot of room to operate’. Translated that means easy to drill and safe to exploit. You would think a POTUS candidate would get a clue and teach the citizens what we have there for the taking. Instead, even some of the Republicans are so afraid of the envirowacko global warming lobby, they are afraid to broach the topic.
Newt says he would defy court orders he does not agree with. The Shell drilling fiasco of the last 4 years would be the best example I can think of where he could defy the courts and fast track our nation to energy independance and star the Islamists who wish to destroy our way of life.
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)
ANYTHING else does not make sense. With regards to drilling, what they are doing goes against National Security. We need to be energy independent. 200 years from now, when we finally do have a Mr. Fusion in every vehicle, the environment can heal whatever ‘wounds’ it has. For now, families have to be taken care, jobs are needed. for G-d’s sake, oil seeps into the oceans constantly.
Like everything else, the powers that be are sociopaths that don't give a rat's ass about anything other than lining their own pockets, and sure as hell couldn't care less about the environment.