X

Sign Up To Our Free Newsletter

Join Now

Thanks for subscribing to our free newsletter!

ERROR

  • 3 minutes Texas forced to have rolling brown outs. Not from downed power line , but because the wind energy turbines are frozen.
  • 7 minutes Scientists Warn That Filling The Sahara With Solar Panels Is A Bad Idea
  • 11 minutes United States LNG Exports Reach Third Place
  • 15 minutes Joe Biden's Presidency
  • 3 hours U.S. Presidential Elections Status - Electoral Votes
  • 6 hours Texas forced to have rolling black outs, primarily because of large declines in output from fossil fuel power plants
  • 2 days Interest article about windmills and waterwheels in Europe
  • 2 hours Good Marriage And Bad Divorce: Germany's Merkel Wants Britain and EU To Divorce On Good Terms
  • 16 hours Retired RAF pilot wins legal challenge over a wind farm
  • 2 days “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 2 days Chance for (Saudi)Arabian peninsula having giant onshore Gas too?
Should You Follow Buffett Into Energy Stocks?

Should You Follow Buffett Into Energy Stocks?

Buffett has lately been doubling…

How High Can Oil Really Go?

How High Can Oil Really Go?

Just a couple of months…

James Burgess

James Burgess

James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…

More Info

US Coast Guard Needs Billions of Dollars to Cover Oil Companies in the Arctic

Shell is one of six energy companies hoping to begin drilling for oil and gas in the Arctic next month. Global warming has led to large amounts of ice melting, which in turn has opened up new areas off Alaska’s north coast, ready for oil and gas exploration.

Since 2005 Shell has spent $4.5 billion preparing for its upcoming Arctic adventure, but it now turns out that US citizens may be required to fork out nearly as much in order to control and regulate oil company operations in the Arctic.

The Coast Guard will need to follow the companies exploring in the Alaskan waters, in order to defend US interests, carry out sea rescues when needed, and organise responses to oil spills. The problem is that the Coast Guard is not equipped for Arctic operations. According to a joint report by the Congressional Research Team and the Coast Guard, it lacks the necessary communication and navigation systems, and will need at least $3 billion invested in new vessels and equipment, if it hopes to function effectively within the cold, rough seas of the Arctic circle.

Admiral Robert Papp, the Coast Guard commandant, said in an interview with Bloomberg, that “the Coast Guard has zero capability in the Arctic. If we are going to have a permanent presence there, it’s going to require some investment. We don’t have the infrastructure in place right now.”

By. James Burgess of Oilprice.com



Join the discussion | Back to homepage



Leave a comment
  • Sylvan on July 20 2012 said:
    Not one penny to help them destroy the last clean environment on earth!
  • William on July 19 2012 said:
    The US should bill the oil drillers for these funds.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News