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September 29, 2015

Shell abandons Arctic oil drilling

  • Shell is abandoning the region “for the foreseeable future” because it failed to find enough oil to make further drilling worthwhile.
  • By DAN JOLING and JONATHAN FAHEY
    Associated Press

    ANCHORAGE, Alaska — Royal Dutch Shell is giving up on its expensive and controversial push to produce oil in Alaska's Arctic waters, a decision that darkens the long-term oil prospects of the U.S. and brings relief to environmental groups that had tried desperately to block the project.

    Shell is abandoning the region “for the foreseeable future” because it failed to find enough oil to make further drilling worthwhile.


     
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