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Total Energy warns against oil drilling in Arctic
The Financial Post is reporting that the chief executive of Total SA, Christophe de Margerie, has said energy companies should not drill for crude in Arctic waters, marking the first time an oil major has publicly spoken out against offshore oil exploration in the region.
According to a 2008 study by the US Geological Survey, the Arctic contains just over a fifth of the world’s undiscovered, recoverable oil and gas resources. The melting of the polar ice cap has made the area more accessible to the majors than ever before.
Read more: Total warns against oil drilling in Arctic – FT.com.
Categories: Climate breakdown, Economics, Energy economics, Global warming, Oil
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