Great News - Shell Halted Drilling In the Arctic - Ambassador report - Our Actions

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Great News - Shell Halted Drilling In the Arctic
by \| 29-09-2015 04:26 0
Shell has stopped drilling off the coast of Alaska after their efforts to find sufficient signs of oil and gas were deemed ?disappointing?. After months of controversy and hundreds of protesters, including kayaktivists who paddled in front of an icebreaker to block its path, Shell announced Monday that it has ended its exploratory oil drilling in the Arctic. The company said it would put a halt to exploration activity in the region ?for the foreseeable future?, blaming high project costs and a ?challenging and unpredictable regulatory environment.? The move has been welcomed by environmental activists. So, after spending approximately $7 billion, it?s giving up on the project. It won?t seek a permit next year, and suggest its departure may be permanent. Its news coincided with the launch of the Energy Transitions Commission, a global group including Shell that aims to address both energy poverty and climate change. Here?s what prompted Shell, the only company drilling in the U.S. Arctic, to quit its exploration: Poor Results Shell?s drilling didn?t deliver the sought-after results. In a statement, Shell said it drilled the Burger J well, located in 150 feet of water in Alaska?s Chukchi Sea, to a depth of 6,800 feet. High Costs The project?s standing has changed because of the drilling?s limited results and its high costs. Mounting Controversy Part of the rising cost involved the increasing amount of time and restrictions in acquiring future U.S. permits. Shell became the target of a massive ?Shell no? campaign that threatened to damage the company?s reputation. PHOTOGRAPH BY KAREN DUCEY, GETTY IMAGES Sources: http://metro.co.uk/2015/09/28/shell-stops-drilling-in-the-arctic-and-its-costing-them-2bn-5410575/#ixzz3n3whUc91 http://news.nationalgeographic.com/energy/2015/09/150928-3-reasons-shell-halted-drilling-in-the-arctic/

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