Wednesday, September 1, 2010

Arctic Oil And Gas Drilling Ready To Take Off

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From New Scientist:

DRILLING for oil kicked off in Greenland's Arctic waters last week - just weeks after the Deepwater Horizon leak was finally plugged - angering environmental groups. Cairn Energy, based in Edinburgh, UK, is the first company to explore Greenland's waters for oil. It won't be the last.

Interest in the Arctic - which holds 13 per cent of the world's remaining oil and 30 per cent of its gas - is booming, driven by the rising price of oil and a shortage of other places for multinational companies to drill.

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My Comment: Forget about Greenland, it is what Canada, the U.S., and Russia will be doing in the arctic that has the greatest potential on impacting the environment.

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