The Arctic Ocean is subject to some of the most volatile weather patterns on the planet. Geologists believe it also contains vast undersea oil and gas reserves.
Last year, the Arctic’s ice cover shrank to the lowest levels in recorded history and, not coincidentally, Royal Dutch Shell Plc (RDSA) received the first permits in decades to begin prospecting for oil and gas in federal waters north of Alaska’s wilderness.
The above excerpt was originally published in Bloomberg. Click here to view the full article.
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