Support the Arctic Sea Ice Forum and Blog

Author Topic: SHELL pulls out of the Arctic!  (Read 2108 times)

slow wing

  • ASIF Middle Class
  • Posts: 705
    • View Profile
  • Liked: 83
  • Likes Given: 204
SHELL pulls out of the Arctic!
« on: September 28, 2015, 11:05:06 AM »
SHELL IS PULLING OUT OF THE ARCTIC!!!  ;D ;D


Quote
Shell abandons Alaska Arctic drilling
Oil giant’s US president says hugely controversial drilling operations off Alaska will stop for ‘foreseeable future’ as drilling finds little oil and gas

Terry Macalister and agencies
Monday 28 September 2015 09.27 BST


Shell has abandoned its controversial drilling operations in the Alaskan Arctic in the face of mounting opposition. ...
http://www.theguardian.com/business/2015/sep/28/shell-ceases-alaska-arctic-drilling-exploratory-well-oil-gas-disappoints


Officially it's because they didn't find much oil but privately they admit awareness of widespread opposition...  ;D


P.S. I posted on an existing thread as well but am thinking this is big news and surely deserves its own thread?

Neven

  • Administrator
  • ASIF Royalty
  • *****
  • Posts: 6499
    • View Profile
    • Arctic Sea Ice Blog
  • Liked: 318
  • Likes Given: 214
Re: SHELL pulls out of the Arctic!
« Reply #1 on: September 28, 2015, 11:48:47 AM »
Very good news.
Il faut comparer, comparer, comparer, et cultiver notre jardin

Sigmetnow

  • ASIF Emperor
  • Posts: 13823
    • View Profile
  • Liked: 193
  • Likes Given: 110
Re: SHELL pulls out of the Arctic!
« Reply #2 on: September 28, 2015, 02:52:10 PM »
Excellent news!  And, it is clear:  protests do have an effect.

Quote
“Shell will now cease further exploration activity in offshore Alaska for the foreseeable future. This decision reflects both the Burger J well result, the high costs associated with the project, and the challenging and unpredictable federal regulatory environment in offshore Alaska,” it said.

It is expected to take financial charges as a result. Shell put the balance sheet value of its Alaska position at about $3bn, with a further $1.1bn of future contractual commitments. It is thought the group will aim to bring down the $1.1bn charge by farming out the rigs and ships it has hired, and will provide an update with third-quarter results.

The company has spent about $7bn on offshore Arctic development in the Chukchi and Beaufort Seas since 2007, or about 20 per cent of its exploration budget.
...
"Now President Obama should use his remaining months in office to say that no other oil company will be licensed to drill in the American Arctic.”

Privately, senior Shell executives concede the Arctic protests have had a bigger impact than expected, damaging the company’s reputation.
http://www.ft.com/intl/cms/s/0/19de519e-65a8-11e5-a28b-50226830d644.html#axzz3n2LkLkYn
People who say it cannot be done should not interrupt those who are doing it.

Sigmetnow

  • ASIF Emperor
  • Posts: 13823
    • View Profile
  • Liked: 193
  • Likes Given: 110
Re: SHELL pulls out of the Arctic!
« Reply #3 on: September 28, 2015, 07:00:05 PM »
Huge Win for Activists Over Industry: Shell Abandons Offshore Oil Drilling in the Arctic
Quote
The head of Shell’s Arctic division, Ann Pickard, told the Wall Street Journal earlier this year that if its efforts in the Chukchi failed “for whatever reason”—and they now clearly have—that it would likely be 25 years before any other company, Shell included, would try again. By that time, climate change may have become such a pressing concern that the Arctic would be seen as off limits.
http://www.slate.com/blogs/the_slatest/2015/09/28/shell_in_the_arctic_shell_abandons_arctic_drilling_citing_regulatory_and.html
People who say it cannot be done should not interrupt those who are doing it.

TerryM

  • ASIF Governor
  • Posts: 4268
    • View Profile
  • Liked: 60
  • Likes Given: 5
Re: SHELL pulls out of the Arctic!
« Reply #4 on: September 28, 2015, 07:16:00 PM »
After chasing news about Shell in the arctic for the past week I was amazed & elated to find out about Shell's decision over at Mother Jones.
http://www.motherjones.com/environment/2015/09/shell-just-scrapped-its-arctic-drilling-plans-good
Can't think of better news for the day !!

Shell has been leading the ravenous pack regarding drilling in the American Arctic. With them pulling the plug it will be some time before others take up the challenge. Our challenge is to keep the pressure on & try to discourage any other company that seeks to take their place at the trough.

Alaska, it seems, is going to have to learn to live without sucking their environment dry. My understanding is that the Alaskan pipeline will not survive for too much longer without major new crude supplies.

Alaskans have been lead to believe that without oil their future is about as robust as Appalachia's. As I see it the future of the region is in ecotourism, if you can't sell the natural beauty of boreal forests, (receding) glaciers and wildlife you need to find a job in a factory. I hope that those of us that can afford tourism to the area will avail ourselves of some northern sightseeing in the near future. It would be nice if Alaska finds that they can not only exist without oil, but that they can flourish as one of the few real wilderness areas left in the US.

I haven't been to Alaska for decades but I'll plan a trip now & another for the month after pipeline is permanently mothballed.

Terry

Buddy

  • ASIF Governor
  • Posts: 3325
  • Go DUCKS!!
    • View Profile
  • Liked: 40
  • Likes Given: 20
Re: SHELL pulls out of the Arctic!
« Reply #5 on: September 29, 2015, 12:51:04 AM »
Quote
Alaska, it seems, is going to have to learn to live without sucking their environment dry. My understanding is that the Alaskan pipeline will not survive for too much longer without major new crude supplies.

Going to be interesting to see what happens to Alaska's economy.  They get a LOT of money from oil.  Once that is gone.....I'm not sure what is going to replace it.  My father was based in Nome and Anchorage (Elmendorf AFB).  I haven't been up there for a few decades.  Great place to spend a summer....but fishing and tourism can only go so far.

FOX (RT) News....."The Trump Channel.....where truth and journalism are dead."