Shell will end exploration off Alaska "for the foreseeable future," the company said, because of the well results and because of the "challenging and unpredictable federal regulatory environment in offshore Alaska.
Margaret Williams of the World Wildlife Fund in Anchorage, called the news stunning.
"That's incredible. That's huge," she said. "All along the conservation community has been pointing to the challenging and unpredictable environmental conditions. We always thought the risk was tremendously great."
If Margaret's reply is snark vis-a-vis Shell statement preceding it, it is first class.
Shell is expected to take a hit of around $4.1bn as a result of the decision.
This is terrible, terrible news.
Shell will end exploration off Alaska "for the foreseeable future," the company said, because of the well results and because of the "challenging and unpredictable federal regulatory environment in offshore Alaska.
Margaret Williams of the World Wildlife Fund in Anchorage, called the news stunning.
"That's incredible. That's huge," she said. "All along the conservation community has been pointing to the challenging and unpredictable environmental conditions. We always thought the risk was tremendously great."
If Margaret's reply is snark vis-a-vis Shell statement preceding it, it is first class.