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Shell's Arctic drilling plan under threat after US orders review

2013-01-08 23:58:00| Climate Ark Climate Change & Global Warming Newsfeed

Guardian: The Obama administration ordered a sweeping review of Shell's plans to drill in the Arctic on Tuesday, after a series of mishaps ending with the New Year grounding of the company's Kulluk rig. The review and a separate investigation of the grounding of the Kulluk raises the possibility that Shell, after investing six years and $5bn trying to extract oil in harsh and remote conditions, may be forced to re-evaluate entirely its plans to drill in the Arctic. The high-level review will home...

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