$5 Gas, Soon headed to $6 a gallon?
Shell oil spent 5 years and $4 billion dollars to explore for oil in the Arctic Ocean, right off the northern coast of Alaska. Shell had planned to start drilling this summer.
Yesterday Shell announced that it is pulling the plug. The EPA refused an air permit, claiming that Shell did not take into account the global warming that might be caused by the emissions of an ice-breaking vessel. The EPA also feared the emissions might adversely affect the air quality of a village 70 miles from the drilling site—a village that is home to 245 people.
Shell is now walking away from the project, which the U.S. Geological Survey says contains 27 billion barrels of oil, 2 ½ times the amount of oil that has flowed through the Trans Alaska Pipeline during the last 30 years.
Meanwhile, Brazil is now using our tax dollars to drill for oil, thanks to a handout recently given to that country by President Obama. I guess that since there is no ice in Brazil, it’s OK to drill there, since they won’t need to use vessels that cause global warming.
Meanwhile, here at home, as gas heads to $6 a gallon, and millions of Americans are looking for work, we can all feel better that the EPA is helping to create thousands of new jobs in Brazil.