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US Curbs Future Oil Drilling in Arctic

The Obama administration has closed the door on oil drilling in the Arctic Ocean off the shores of Alaska. On Friday, the Department of the Interior announced the cancellation of two potential lease sales off the Alaskan coast in the Beaufort and Chukchi seas. The announcement comes just weeks after Royal Dutch Shell said it would cease exploration in the Chukchi and Beaufort seas after spending upward of $7 billion on Arctic exploration. The company cited disappointing results from a...

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