11. A Useful Pause in Arctic Drilling
- Author:
- Bruce M. Everett
- Publication Date:
- 09-2015
- Content Type:
- Journal Article
- Journal:
- Fletcher Security Review
- Institution:
- The Fletcher School, Tufts University
- Abstract:
- Until last year, drilling for oil in the Arctic was the subject of considerable discussion focused not only on the potential impacts of Arctic resources on the oil market, but also on the environmental and geopolitical implications of opening this area to development. Prospects for Arctic drilling dimmed considerably in 2015 when Shell decided to abandon its ambitious drilling efforts in the Burger Field in the Chukchi Sea, writing off several billion dollars in the process. The recent collapse in oil prices has probably put a stop to Arctic drilling for the time being, and this pause may prove useful in resolving some of the outstanding issues.
- Topic:
- Environment, Oil, Natural Resources, Geopolitics, and Maritime
- Political Geography:
- Russia, Canada, Norway, Denmark, Greenland, Arctic, United States of America, and Oceans