Description: After plunking down more than $2.5 billion for drilling rights in U.S. Arctic waters, Royal Dutch Shell, ConocoPhillips and other companies have quietly relinquished claims they once hoped would net the next big oil discovery.

Source: Bloomberg.com – video report

Date: May 10, 2016

Link: http://www.bloomberg.com/news/articles/2016-05-10/big-oil-abandons-2-5-billion-in-u-s-arctic-drilling-rights

Questions for Discussions:

• What does the report say about Arctic exploration and resources?
• What do you think will happen over the next decade?