{"id":6157,"date":"2015-10-02T14:00:28","date_gmt":"2015-10-02T13:00:28","guid":{"rendered":"http:\/\/www.theoillamp.co.uk\/?p=6157"},"modified":"2015-10-02T14:00:28","modified_gmt":"2015-10-02T13:00:28","slug":"one-thing-we-have-learnt-this-week-shells-arctic-adventure-is-over","status":"publish","type":"post","link":"https:\/\/www.theoillamp.co.uk\/?p=6157","title":{"rendered":"One thing we have learnt this week -Shell’s Arctic adventure is over."},"content":{"rendered":"

\"Wonder_Lake,_Denali\"<\/a>Shell’s Arctic adventure is over, at least for the moment.\u00a0 This week the company announced it was abandoning Arctic exploration or putting it on hold.\u00a0 Oil exploration is expensive at the best of times and Shell has written off nearly $5billion dollars in hiring rigs etc. to drill in very challenging environment.\u00a0 (People say its actually spent $7billion).\u00a0 What does it have to show for its Arctic adventure?\u00a0 Not one drop of oil found but a lot of bad feeling.\u00a0 It comes to something when other oil executives and Lord Browne (ex CEO of BP) criticise you.<\/p>\n

The problem with Shell’s Arctic adventure was if something went wrong like it did for BP in the gulf of Mexico it would be impossible to clear up or stop a leak.\u00a0 The sea (even with climate change) is still frozen for half the year.\u00a0 A personal theory is that maybe the insurers got cold feet.<\/p>\n

Another interesting outcome of Shell’s Arctic adventure was the fact that they found nothing.\u00a0 People have been claiming there is loads of oil there (and of course there is or was in Alaska), but the fact that Shell found nothing suggests maybe there is not nearly as much as was thought.\u00a0 We know we are banging up against peak oil when people start extracting shale oil and drilling in the Arctic.\u00a0 In spiritual terms does the dominion we are given in Genesis really mean there no places off limits and we can do anything? Hopefully Shell’s Arctic adventure is over for good.<\/p>\n

Neil<\/p>\n","protected":false},"excerpt":{"rendered":"

Shell’s Arctic adventure is over, at least for the moment.\u00a0 This week the company announced it was abandoning Arctic exploration or putting it on hold.\u00a0 Oil exploration is expensive at the best of times and Shell has written off nearly … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[5,17,3],"tags":[146,269,57,145],"class_list":["post-6157","post","type-post","status-publish","format-standard","hentry","category-climate-change","category-one-thing-we-have-learnt-this-week","category-peak-oil","tag-arctic","tag-climate-change","tag-peak-oil-2","tag-shells-arctic-adventure"],"yoast_head":"\nOne thing we have learnt this week -Shell's Arctic adventure is over. - The oil lamp - 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