ROYAL DUTCH SHELL AFTER GETTING DICKED AROUND BY THE EPA, DEMOCRATS, AND TERRORIST LIKE ATTTACKS FROM GREENPEACE AND AFTER INVESTING $7 BILLION WITH NO ASSURRANCE OF STRIKING IT RICH WITH OIL IS READY TO PULL THE PLUG FROM ALASKA–AS OIL EXPLORATION IS NO SURE THING WITH LITTLE RESULTS TO SHOW FOR AFTER 3 YEARS–WHILST THE PRICE OF OIL PER BARREL HAS NOT HELPED OFFSET THE COST ON INVESTMENT RETURNS–BACK TO THE FUTURE IT IS FOR ALASKA

Oil company Royal Dutch Shell is pulling out of exploration in Arctic waters off Alaska for the foreseeable future and could take a hit of up to $4.1 billion after failing to find enough oil.

The unsuccessful drilling campaign is Shell’s second major setback in the area after it interrupted exploration there for three years in 2012 when an enormous drilling rig broke free and grounded.

The company, which has spent about $7 billion on exploration in the Arctic, said its decision to withdraw reflects the project’s high costs and the unpredictable federal regulatory environment in the area.

“Shell has found indications of oil and gas in the Burger J well but these are not sufficient to warrant further exploration in the Burger prospect,” it said in a statement on Monday.

Environmental campaigners, who tried to interrupt Shell’s drilling plans by blocking an icebreaker vessel as they dangled from a bridge, welcomed the news.

“They had a budget of billions, we had a movement of millions. For three years we faced them down, and the people won,” said Greenpeace UK executive director John Sauven.

Environmentalists have criticised Shell’s drilling plans in the Arctic, which is home to sensitive populations of whales, walrus and polar bears.

http://www.france24.com/en/20150928-usa-shell-halts-alaska-oil-drilling-disappointing-results