Thursday, July 19, 2012

US Coast Guard Needs Billions of Dollars to Cover Oil Companies in the Arctic

US Coast Guard Needs Billions of Dollars to Cover Oil Companies in the Arctic

Shell is one of six energy companies hoping to begin drilling for oil and gas in the Arctic next month. Global warming has led to large amounts of ice melting, which in turn has opened up new areas off Alaska’s north coast, ready for oil and gas exploration.Since 2005 Shell has spent $4.5 billion preparing for its upcoming Arctic adventure, but it now turns out that US citizens may be required to fork out nearly as much in order to control and regulate oil company operations in the Arctic.The Coast Guard will need to follow the companies…Read more...

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