EcoWatch: Its a gamble--some would say a giant gamble. Before even one litre of oil has been found, the Anglo-Dutch Shell group is believed to have spent more than US$7 billion--just making preparations for its latest Arctic venture.
Shell is betting on finding the oil industrys Holy Grail: according to 2008 estimates by the U.S. Geological Survey, the Arctic contains more than 20 percent of the worlds remaining hydrocarbon resources--including at least 90 billion barrels of oil.
If Shell does strike...