Shell drops plans to drill in the Arctic for now

Mongabay
By Jeremy HanceJan 30, 2014, 8:06 am131 pts
Facing plunging profits, Royal Dutch Shell has announced it will cut exploration and development funding by nearly $10 billion this year, including halting their long-suffering plans to drill in the Arctic ocean. Shell's new CEO, Ben van Beurden, made the announcement yesterday that controversial plans to drill…

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