U.S. Blocks Alaskan Arctic Drilling for 2 Years

October 17, 2015 3:11 AM

34 0

U.S. Blocks Alaskan Arctic Drilling for 2 Years

HOUSTON — The Obama administration shut the door Friday on drilling in Alaska’s Arctic Ocean over the next two years, canceling auctions for drilling rights in the Chukchi and Beaufort seas.

The decision by the Interior Department was not surprising because it came less than a month after Shell Oil canceled the most advanced exploration project in the region because of disappointing results from a test well and high costs at a time when oil prices are extremely low.

Also read: U.S. Seeks to Maintain Fragile Anti-ISIS Alliance in Iraq

Read more

To category page

Loading...