Saturday, 1 February 2014

Shell Shelve Artic Drilling.

Right now, Van Beurden is deciding Shell’s strategy for the future, and he’s under a lot of pressure to make some big changes. Just two weeks ago, in the face of falling profits, Shell had to release its first profit warning in ten years. And thanks to a broad range of environmental groups, a US court ruled that Shell couldn’t drill in Alaska this year.

 Investors are really nervous, and vast amounts of money have been wasted on fines, leases and equipment. Shell’s £4 billion Arctic experiment has been a failure.

Ten years ago, when Shell first decided to gamble on oil in the melting Arctic Ocean it might have looked like a good investment. Fast forward to 2014 and Shell have nothing to show except financial loss and reputation disaster. The world has changed and big oil is not the future.

It’s time to move on.

Let’s make it happen.
All the Arctic defenders at Greenpeace UK

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