As Shell moves toward Arctic, industry decries regulations
Article by Jennifer A. Dlouhy published June 16, 2015 by The Houston Chronicle
As Shell moves toward Arctic, industry decries regulations
Industry leaders and allies in Congress say red tape will discourage Arctic exploration
WASHINGTON – Even as Shell Oil Co. gets closer to drilling new exploratory wells in Alaska’s Chukchi Sea, industry leaders and their congressional allies are insisting that the Obama administration’s planned Arctic drilling standards are so onerous and costly they will discourage others from following suit.
“Is the proposed rule intended to make exploration so expensive that it is not financially feasible to explore in our Arctic?” asked former Alaska state Sen. Drue Pearce, who headed the state Senate’s oil and gas committee. “If we want to have development in the Arctic as the president has called for, then we need to have standards that are economically feasible to allow them to go forward.”
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