Arctic Approval Reignites Drilling Debate

The Chukchi Sea remains one of the last untapped frontiers for oil and gas exploration and extraction off of the coast of Alaska. Holding an estimated 15 billion barrels of oil, the Sea has been the center of debate between oil companies and environmental groups. However, a recent decision by the Obama Administration will allow Shell Gulf of Mexico, Inc. to begin exploratory drilling in the Sea. In 2012, the U.S. Interior Department halted the project after the company had spent nearly $6 billion and almost a decade preparing the site. The project came under several shortfalls, including numerous air pollution and safety violations, including an incident which one of Shell’s oil rigs ran aground.

from Forbes – Business http://ift.tt/1HcKe7q
via Abogado Aly Business Consulting

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