Norway Bets On Global Warming In Arctic Oil And Gas Drive

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Norway Bets On Global Warming In Arctic Oil And Gas Drive

by Wochit 0:46 mins

Norway Bets On Global Warming In Arctic Oil And Gas Drive

by Wochit 0:46 mins

Norway wants to let oil and gas companies drill in Arctic seas that were frozen as recently as the 1980s even though some climate experts say it is too early to trust global warming to keep the ice away. Russia is also showing new interest in the Arctic despite high costs in a region where governments are struggling to set safety rules after BP's 2010 blowout in the Gulf of Mexico, the worst offshore spill in U.S. history. Many companies, including ConocoPhillips and Idemitsu, are applauding a plan by Norway to open the South East Barents Sea - about 1,100 miles from the North Pole - to exploration as climate change thaws the Arctic.

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