Shell Oil Abandons Arctic Oil and Gas Exploration – Environmental Disaster Avoided

Shell Oil Abandons Arctic Oil and Gas Exploration - Environmental Disaster Avoided Activists in kayaks protest the Polar Pioneer, Shell's giant oil rig, which is moored at the Port of Seattle's Terminal 5 on May 16, 2015.

Shell Oil Abandons Arctic Oil and Gas Exploration – Environmental Disaster Avoided Activists in kayaks protest the Polar Pioneer, Shell’s giant oil rig, which is moored at the Port of Seattle’s Terminal 5 on May 16, 2015. Photo Credit: Seattle Times

Shell Oil Abandons Arctic Oil and Gas Exploration – Environmental Disaster Avoided

Royal Dutch’s Shell’s decision to pull back from exploration off Alaska’s North Slope reflects not just the results of a disappointing summer drilling season but also the pressures faced by an oil industry buffeted by low crude prices and increased concern about the environmental risks of developing major new oil fields in the offshore Arctic.

Shell has spent some $7 billion in hopes of finding a big new source of future revenue and establishing expertise in a frontier area that geologists believe holds a significant portion of the world’s undiscovered oil and gas.
That effort sparked a multitude of protests from environmentalists through the summer in Seattle, where a giant drilling rig sat in Elliott Bay. In Portland, activists dangled from a bridge to stop a Shell vessel from departing for the Arctic.
Protesters and Seattle city officials on Monday celebrated the news, and insisted their work to shift the political winds played a part in Shell’s decision.
Shell announced late Sunday it would end this exploration “for the foreseeable future,” citing the disappointing results of an initial well, the high costs of development and the “challenging and unpredictable federal regulatory environment in offshore Alaska.”

It appears unlikely that Shell would resume the exploration off Alaska before the 2019 expiration of the company’s federal offshore leases in the Beaufort Sea and the 2020 expiration of its Chukchi Sea leases.

Report: Seattle Times Reports

So this should be a major victory for us activists/environmentalists right? This is a great victory indeed and what a relief it is. I wasn’t fully aware of how much it bothered me, the thought of an oil spill in the Arctic until I heard the good news and actually felt relieved.

Shell-Executives-Commit-Ecological-Genocide

The bad news is these psychopaths are trying to pull the same crap all over the planet. See Below:

Newfoundland Politicians Excited About Potential Offshore Drilling

The government of Newfoundland and Labrador says there is as much as 30 billion barrels of oil equivalent that is expected to be found in an unexplored area of its deep-water offshore, as the province looks for billion-dollar drilling commitments from international oil companies to expand its production.

In an telephone interview from St. John’s, Ed Martin, chief executive officer of provincially owned Nalcor Energy, said the province’s Flemish Pass area ranks as one of the top undeveloped areas in the world, particularly as companies such as Royal Dutch Shell PLC turn away from risky ventures in the Arctic.

The province’s premier, Paul Davis, released an assessment by French geophysical firm, Beicip-Franlab, that estimates that an 11-parcel block currently being auctioned in the Flemish Pass has the potential to contain 12 billion barrels of crude and 113 trillion cubic feet of natural gas. Beicip-Franlab based that estimate on seismic and satellite data collected by Nalcor and private sector partners that conducted a four-year, $240-million exploration program.

Full Story: The Globe and Mail

Premier Paul Davis says there’s ‘enormous’ potential offshore Newfoundland and Labrador.
Seismic data released yesterday showed the potential of 12 billion barrels of oil and 113 trillion cubic feet of gas in a 24,000 square kilometre area in the Flemish Pass. The survey only covered a two per cent area of the total offshore.
To put it in perspective, Davis compared the potential to seven Hibernias which equates to about $600-billion of oil.

Full Story: VOCM.com

Then the media spins the climate BS

Canada announced new greenhouse gas reduction targets on Friday, pledging to cut emissions by 30 per cent over the next 15 years, but the plan avoids placing regulations on the oilsands despite earlier promises.

“What we have put forward today is a serious target,” said federal Environment Minister Leona Aglukkaq.”We will still require work to get reducing our targets and we’re determined to do that.”

The pledge comes ahead of a June meeting between Ottawa and the provinces on emissions in the lead up to a major climate change conference in Paris at the end of the year.

While the new targets are almost double Canada’s previous pledge, critics point out Canada is already behind on those less ambitions goals.

Full Story: CBC News

My point is, this was a great victory for every living being on this planet but we can’t let your guard down. We’ve won a battle but not the war my fellow human beings. I appreciate all of you who are reading this and keep up the good fight.

Categories: OIL & FRACKING

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