Shell abandons Alaska Arctic drilling

[lovuian]

http://www.theguardian.com/business/2015/sep/28/shell-ceases-alaska-arctic-drilling-exploratory-well-oil-gas-disappoints

Oil giant’s US president says hugely controversial drilling operations off Alaska will stop for ‘foreseeable future’ as drilling finds little oil and gas

Too expensive in a world flushed with cheap oil

[ohnoyoudidnt]

1. Oil won't remain at $44 a barrel forever.

It's just not cost-effective at this time. They will resume when it becomes profitable to do so, unless by some miracle enough people wake up and force the implementations of the environmental regulations we need to mitigate the coming climate disaster the best we can.

[freethought]

2. I have posted elsewhere

When gas prices fall like they have recently, there are always suckers that immediately head out and trade in the crossover or the hybrid for a big SUV or gas-guzzling muscle car. This fall in gas prices is no different, cars like the Chevy Camaro, Dodge Challenger, and the Ford Mustang variants are hot sellers. They will regret it.

[lovuian]

3. Money not well

spent
Artic drilling is a no no