Feds Know Shell's Return To Arctic Is 'Highly Controversial'
Shell has won conditional approval to drill for oil in the Chukchi Sea, a move that's infuriating for environmentalists.By Cliff Judy | May 12, 2015
Score a major victory for the oil industry as Shell now has approval to drill offshore in the Arctic, though there are restrictions.
Late Monday, the U.S. Bureau of Ocean Energy Management issued this letter listing 18 separate conditions for drilling in the Chukchi Sea, opening the door for Shell to invest another $1 billion in the region analysts believe holds vast oil reserves. (Video via Shell)
The feds' decision is a huge blow for environmentalists who argue a mistake in the Arctic could be even more devastating than the Deepwater Horizon rig in the Gulf of Mexico. The region for proposed drilling has far more extreme oceanic conditions and is more remote, making it hard for responders to reach a disaster if something went wrong. (Video via RT & U.S. Geological Survey)