Guardian ‘Shell has abandoned its controversial drilling operations in the Alaskan Arctic in the face of mounting opposition in what jubilant environmentalists described as “an unmitigated defeat” for big oil. The Anglo-Dutch company had repeatedly stressed the enormous hydrocarbon potential of the far north region in public, but in private began to admit it had been surprised by the popular opposition it faced. Shell said today it had made a marginal discovery of oil and gas with its summer exploration in the Chukchi Sea but not enough to continue to the search for the “foreseeable” future. Shell has spent over $7bn (£4.6bn) on its failed hunt for oil which critics said could only endanger one of the world’s last pristine environments and produce expensive hydrocarbons that were no longer needed.’ To read more go to:
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