Interior Department cancels two future offshore leases in Chukchi and Beaufort seas and will refuse requests from oil companies to renew existing leases
Barack Obama blocked off the prospects for future oil drilling in the Arctic on Friday, imposing new lease conditions that make it practically impossible for companies to hunt for oil in the world’s last great wilderness.
The Department of Interior said it was canceling two future auctions of Arctic offshore oil leases in the Chukchi and Beaufort seas, and turned down requests from Shell and other oil companies for more time on their existing leases.
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Source: Guardian Environment