BP Abandons Arctic Drilling Plan

[steve2470]

http://news.discovery.com/earth/bp-oil-arctic-drilling.html#mkcpgn=rssnws1

BP has scrapped plans to drill in the Arctic, where a new oil rush is expected, amid fears such a move would be "political madness" after the Gulf oil spill, Britain's Guardian daily said Thursday.

The energy giant said it was no longer planning to try and win an exploration license in Greenland, it said.

"We are not participating in the bid round," a spokesman for the British firm told the paper without giving details on why the decision was taken.

BP's decision came after Scottish exploration group Cairn Energy revealed Tuesday it had discovered gas off Greenland's coast and said there may be other hydrocarbon resources in the region.

[dipsydoodle]

1. However that don't prevent them

from coming in from the other side using the Russian joint venture.

[I Have A Dream]

2. Interesting point.

Thanks for mentioning it.