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Podcast: Energy Gang
Episode: Shell's Arctic Drilling Gamble
Description: In 2012, Shell ventured up to the Arctic to drill exploratory offshore oil wells. A lot went wrong.
Its containment dome failed, a ship ran aground, another vessel was threatened by ice, one of its contractors was fined for safety violations -- and after all that, Shell never completed its exploratory drilling operation.
The company has spent $7 billion to explore for oil in Arctic waters. And with a new plan of attack and fresh approval from the Obama Administration, Shell plans to spend $1 billion every year to get access to the region's rich reserves.
In this episode, we look at the...