Our new report today details a clear case against drilling for oil in the Arctic ocean based on climate science imperatives. The report shows U.S. Arctic offshore oil should be deemed an “untouchable” fossil fuel reserve by any reasonable measure.
Mexico is opening up its lucrative offshore oil fields for the first time in 80 years, and in the words of the Financial Times, which devotes a whole page of the paper to the subject, “it is shaping up to be quite a feast.”
Today’s decision to rubber stamp Shell’s 2015 Arctic Exploration Plan is yet another example of the dangerous disconnect between our climate imperatives and the Obama administration’s energy policy.
Shell is currently moving its drilling rigs to Seattle in anticipation of resuming its US offshore Arctic drilling programme in July. However, it is far from clear that Shell has adequate physical or financial plans to deal with the impacts of a major oil spill in this remote region.
Twenty years ago the oil giant Shell was embroiled in two separate controversies, which still haunt the company to this day.
There was grim news over the weekend for those fighting Arctic drilling as the Russian energy giant Rosneft announced that it had struck oil in the world’s most northerly well, deep in the Arctic.
Yesterday, Norway’s ruling Labour Party took a “major step” towards opening up other areas of the Arctic to oil drilling that are currently restricted from drilling
The latest disaster is just one more in a long list for Shell in its Arctic debacle. It gives further fuel to the fire for those who argue that oil drilling in the region should be banned.
Later today as part of Obama’s “All of the Above” energy strategy, the Bureau of Ocean Energy Management will hold an oil and gas lease sale that will make more than 20 million offshore acres available to oil and gas drilling.
Oil companies operating in the North Sea could face an estimated $13 billion (Euros 10 billion) bill in light of the Elgin gas spill which could also seriously affect their credit ratings, according to rating agency Fitch. Total’s Elgin platform in the North Sea has been leaking gas since last month with some estimates that … Read More