For years, oil companies have been trying to successfully get at the 15 billion of barrels of oil buried below the Alaskan Arctic. Shell spent nine years and $7 billion fighting regulations, ice, and hurricane-force storms, only to give up its leases for the one insurmountable obstacle: low oil prices. Throughout 2015, crude sat at around $40 a barrel.
Shell Abandons Its Arctic Oil Claims
Throughout 2015, crude has sat at around $40 a barrel.
Aerial view of an Arctic oil drilling rigHarald Sund
