Shell Loses $8 Billion - Leaving Alaska

[Star]

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Shell dumped $8 billion on this project with no ROI.
If you haven't already pulled your investment dollars out of carbon based fuel, now might be a good time?


Shell to Cease Oil Exploration in Alaskan Arctic After Disappointing Drilling Season

By Sarah Kent And Ian Walker
Updated Sept. 28, 2015


LONDON— Royal Dutch Shell RDS.A 0.68 % PLC on Monday said it would cease drilling in the Arctic after disappointing results, moving to end a costly project that caused a surge of environmental protests and will likely cost the company billions in charges.

The oil and gas company pressed ahead with its multibillion-dollar exploration program offshore Alaska this summer despite tumbling oil prices and opposition from environmental groups, as well as religious and political figures such as the Archbishop of Canterbury and Hillary Clinton.

The Arctic—one of the few remaining unexplored oil frontiers—had been deemed to be too great a prize to walk away from, but the company has changed its mind after the Burger J well it drilled in the Chukchi Sea this summer only showed traces of oil and gas.

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[martybegan]

Oil companies experience bad results like this all the time, that's why they bank profits when they have high prices, to cover price drops and exploration busts like this.

 

[Political Junky]

Shell caved to the environmentalists.

 

[TheOldSchool]

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Shell dumped $8 billion on this project with no ROI.
If you haven't already pulled your investment dollars out of carbon based fuel, now might be a good time?


Shell to Cease Oil Exploration in Alaskan Arctic After Disappointing Drilling Season

By Sarah Kent And Ian Walker
Updated Sept. 28, 2015


LONDON— Royal Dutch Shell RDS.A 0.68 % PLC on Monday said it would cease drilling in the Arctic after disappointing results, moving to end a costly project that caused a surge of environmental protests and will likely cost the company billions in charges.

The oil and gas company pressed ahead with its multibillion-dollar exploration program offshore Alaska this summer despite tumbling oil prices and opposition from environmental groups, as well as religious and political figures such as the Archbishop of Canterbury and Hillary Clinton.

The Arctic—one of the few remaining unexplored oil frontiers—had been deemed to be too great a prize to walk away from, but the company has changed its mind after the Burger J well it drilled in the Chukchi Sea this summer only showed traces of oil and gas.

<snip>


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Good. A win for conservation.

 

[Mr. H.]

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Shell dumped $8 billion on this project with no ROI.
If you haven't already pulled your investment dollars out of carbon based fuel, now might be a good time?


Shell to Cease Oil Exploration in Alaskan Arctic After Disappointing Drilling Season

By Sarah Kent And Ian Walker
Updated Sept. 28, 2015


LONDON— Royal Dutch Shell RDS.A 0.68 % PLC on Monday said it would cease drilling in the Arctic after disappointing results, moving to end a costly project that caused a surge of environmental protests and will likely cost the company billions in charges.

The oil and gas company pressed ahead with its multibillion-dollar exploration program offshore Alaska this summer despite tumbling oil prices and opposition from environmental groups, as well as religious and political figures such as the Archbishop of Canterbury and Hillary Clinton.

The Arctic—one of the few remaining unexplored oil frontiers—had been deemed to be too great a prize to walk away from, but the company has changed its mind after the Burger J well it drilled in the Chukchi Sea this summer only showed traces of oil and gas.

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Yoar an idiot.