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Oil and Gas
Estimates
in the Billions of Barrels
Oil and gas reserves
in the billions of barrels exist on the 8 American Alaskan islands and
the
hundreds of thousands of square miles of seabeds around them which are being given away to
the Russians.
The largest oil area in the entire
United States is the North Slope of Alaska--which faces onto
the Arctic Ocean.
The Arctic Ocean areas under consideration are very shallow and are geologic
extensions from the mainland. Reproduced below are estimates of the oil
and gas reserves in just
one area of the Chukchi Sea, which the U. S.
Department of the Interior was leasing out in 1991.
The low estimate for
this limited area was 430 million barrels, and the high was 3.54 billion
barrels.
Another oil lease area was the Navarin Basin. It was leased out in April 1984 in the middle of
the Bering Sea next to the proposed
maritime boundary line. These leases were sold for $631
million dollars. However, along that proposed maritime boundary line,
four oil companies bid
$108 million for the rights to explore on 31 blocks that
were in peril of being given to the
Soviets/Russia. The companies were
Shell (bidding $51 million for 14 blocks), Amoco (bidding
$45 million for 14
blocks), AtlanticRichfield (bidding $10 million for 2 blocks), and Unocal
(bidding $2 million for 1 block). These oil companies never received the
leases.
