Shell Breaks Record - Highest Bidder for Chukchi Sea
We just posted about Native Conservationists bringing suit to block artic sea leasing in the Chukchi Sea in order to protect wildlife - particularly the Polar Bear population - as well as native traditional lifestyles. It's just been announced that Shell (Royal Dutch Shell) has come in as the highest bidder for 275 lease blocks that are offshore Alaska's northwest coast in the Chukchi Sea. Shell already has lease holdings in the Beaufort Sea, so these additional 275 blocks helps to solidify the companies position in Alaska.
Shell's $105.3 million bid broke a record for the three by three mile leasehold - this bid is nearly twice as much as any bid for a single U.S. offshore tract. Another related article in the Washington Post today talks about The Interior Department's announcement of $2.6 billion in winning bids from companies seeking to drill for oil and gas in Alaska's Chukchi Sea despite protests from environmental groups and members of Congress that oil and gas exploration would endanger polar bears.
Read Post Article - Polar Bears' Plight Raised In Drill Bids For Oil, Gas
Posted on Thursday, February 7, 2008 at 09:11PM
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