Should Arctic Oil Be Kept Underground?

Unless the remaining days of December surprise us with a world-beating hydrocarbon discovery, 2019 will go down as one of the weakest years on record in terms of new oil additions. Conventional oil and gas discoveries have fallen to a 70-year low and unconventional failed to impress, too. Under circumstances like this, oil companies continue to focus on the low-hanging fruits – focus on drilling in acreage adjacent to existing infrastructure or prioritize short-term low-reserve shale reserves which do not necessitate such long-term commitments.…