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January 31, 2014

Shell Drops Plans to Drill in the Arctic This Year 
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Shell has abandoned its plans to drill for oil off the coast of Alaska
for this year after a court ruling cast doubt on its leases in the
Chukchi Sea. Last week, the U.S. Court of Appeals for the Ninth Circuit
said the government had inadequately assessed the drilling's potential
environmental impact. On Thursday, Shell's CEO said "the lack of a clear
path forward means that I am not prepared to commit further resources
for drilling in Alaska in 2014." Shell had previously suspended its
Arctic operations after a series of mishaps, including equipment
failures and the grounding of a drill ship.

 

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