Fed Agency Approve Shell Drilling Plan for Arctic

The Associated Press reports that U.S. Bureau of Ocean Energy Management, Enforcement and Regulation gave conditional approval to Shell Oil Co.’s plans to start drilling in Arctic waters off Alaska’s coast in 2012.

The market news is quoted as saying:

Approval by the U.S. Bureau of Ocean Energy Management, Enforcement and Regulation, or BOEMRE, is contingent upon Shell securing drilling, air quality and other necessary permits and authorizations. But it represents a huge step toward Shell being allowed to start drilling in the Beaufort Sea.

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