The Oil That Comes in from the Cold
By Humberto Márquez
December 31 2011
CARACAS, Dec 30, 2011 (IPS) - Thanks to soaring oil prices and new technology, oil producers in the hot sands of Arabia, the torrid Niger delta or the humid plains of the Orinoco are facing new competition from rivals in the frozen North.
The Anglo-Dutch Shell group was given the green light by the U.S. environmental agency to drill for oil off the coast of the northern edge of Alaska from July 2012, a project in which the company has already invested 3.5 billion dollars.