If there’s so little oil left in the region, why is Russia drilling for it? Is it yet another free gift from the Obama administration?
Blocking lease extensions and future sales
The Interior Department announced today it will stop selling new Arctic drilling leases for future scheduled sales, and it will not extend leases currently held by companies like Royal Dutch Shell.
“In light of Shell’s announcement, the amount of acreage already under lease and current market conditions, it does not make sense to prepare for lease sales in the Arctic in the next year and a half,” Secretary of the Interior Sally Jewell said a press release.
Full article: The U.S. Interior Department Halts Future Arctic Oil Drilling (Popular Science)