While territorial claims are and will likely be heated, what struck me is that the area is right near the Drake Passage, in the Weddell Sea (which is fundamental to the world’s ocean currents AFAIU).
I don’t know how oil drilling in the antarctic could affect the passage, but still, I’m not sure I would trust human oil hunger with a 10ft pole on that one.
Also interestingly, the discovery was made by Russia, which is a somewhat ominous clue about where the current “multi-polar” world and climate change are heading. Antarctica, being an actual continent that thrived with life up until only about 10-30 M yrs ago, is almost certainly full of resources.
At the current usage rate, how long would 511 billion barrels last?
Googling says 36.4 billion barrels per year as of 2018, so 14 years.
That kind of calc isn’t fair though because there’s a ton of protection everywhere else.
Of course its just an estimate. I’m sure the “burn rate” will change between now and whenever it could be extracted, if that ever happens.