The U.S. government gave Royal Dutch Shell the final go-ahead on Monday to drill for oil in the Arctic Ocean off the northwest coast of Alaska. The Interior Department issued the Anglo-Dutch company a permit allowing it to explore deeper into the ocean floor after granting Shell conditional approval to drill in May. The drilling will be the first exploration in the U.S. region of the Arctic in more than two decades; the area is estimated to hold some 26 billion barrels of recoverable oil which could significantly boost U.S. domestic oil production from its current level of 9.5 million barrels per day.
“Environmental groups condemned the decision, arguing that it goes against Mr. Obama’s stated commitment to addressing climate change and shifting away from fossil fuels like oil and natural gas toward renewable energy resources,” the Wall Street Journal notes. Shell will have until late September t...
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