Arctic Oil Project Set Back for BP

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As the delicate state of the Alaskan ice reportedly continues to melt due to the current escalation of climate change, BP hit a project stumbling block  in a quest for oil due to poor rigging failing safety checks. The development of its Liberty field project to reach a 100 million barrel resivours hopes to offset declining flows of oil. With royalties to be forwarded to federal government, there is still pursuit from the petroleum industry to regain dried up pipelines with Shell now looking to begin exploratory drilling.

Despite continuous protest from activists against the current actions of oil companies because of  the high likelihood of potential spills due to the ambitious nature of the drilling (aside from the green movements pursuit in renewable energy subsidy over natural resource investment), it would seem that rather than allowing the pipelines to dry up and look for alternative generation of energy through sustainable means, BP and Shell would rather exploit the Alaskan crude oil fields. The BP project remains stagnant due to lack of technological perfection of the rig as opposed to a sense of environmental obligation, which leads many to hope the rig never meets the safety requirements and the Shell exploration ends unsuccessfully..not that either will result in the investment of solar, wind, bio fuel or hydro-power energy, but possibly may instill some fear into global economy that oil will not last forever and we need to utilize the back up plan making it the main source of energy production.

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