Shell Oil Company has announced that it is ceasing its Arctic Ocean oil exploration campaign immediately, at least for now. Seven years and a $7 billion dollar investment later, Shell’s ill-conceived search for oil in the Chukchi Sea is over, according to Shell, “for the foreseeable future.”
“Shell's departure from the Arctic Ocean removes, for now, a major threat to the region's wildlife, already suffering from climate change more rapid than anywhere on earth,” said Drew Caputo, Earthjustice Vice President of Litigation for Lands, Wildlife and Oceans. “Arctic Ocean oil drilling is a thing of the past. The world cannot afford to burn the vast majority of known fossil fuel reserves, let alone to search for unknown oil in Arctic Ocean, risking an irreplaceable region and wildlife in the process. President Obama now has an opportunity to build on his climate legacy and end Arctic Ocean drilling for good. It’s time to invest in the future of clean renewable energy and a sustainable climate for future generations."