Shell Oil will meet with the federal government this week to propose an ambitious plan seeking permission to drill up to 10 exploratory oil wells beneath Alaska’s Arctic waters. The company has led the way for five years to convince regulators and environmentalists and server courts that it could drill in the region without causing harm to polar bears and other wildlife while safeguarding air quality for residents. Shell said that it could also respond quickly to any spill in the region.
The area is believed to hold vast reservers of oil, potentially enough to fuel 25 million cars for 35 years.
Nonetheless, BP’s Deepwater Horizon disaster a year ago has put a negative view on new offshore drilling.
The issue will be a tough test for President Obama, who has promised to put safety first following the BP spill. He has also reaffirmed his support for offshore drilling amid voter worries about rising gasoline prices.
– By: Omar Rana