Arctic Oil: Can Shell Afford It? Drilling Is Climate Disaster; Coast Guard Additional Burden
Can Shell Afford Arctic Oil? How much oil would make Shell’s controversial Arctic bid profitable? What would be the impact of a catastrophic oil spill? And can the venture succeed as the world adapts to climate change?
Arctic Oil Drilling Is a Climate Disaster, Says New Report. While industry and government actors have claimed that Arctic oil is necessary to meet future oil demand, the analysis shows that such claims are based on oil supply and demand scenarios that will lead to at least 5 degrees Celsius of warming by 2100. Such warming would catastrophically exceed the 2˚C warming limit agreed to by most countries, including the U.S. and would lead to human and ecological disasters.
US Coast Guard sees added burden in Shell’s Arctic quest. The U.S. Coast Guard has been forced to divert resources – including a vessel that fights cocaine trafficking – to the Arctic this summer to ensure that Royal Dutch Shell’s exploratory oil drilling meets its environmental and safety commitments, its top officer said.
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