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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Brumar89 who wrote (934420)	5/11/2016 12:11:33 PM
From: Brumar89	1 Recommendation Recommended By tntpal Read Replies (1) \| Respond to of 1571785

How to make a liberal apologize: I'm sorry. I apologize... http://elevenbravotwenty.blogspot.com/2016/05/im-sorry-i-apologize.html

To: Brumar89 who wrote (934420)	5/11/2016 12:20:29 PM
From: Wharf Rat	Read Replies (1) \| Respond to of 1571785

"I've read and own somewhere here books on the ice ages. Another ice age is inevitable and there's never been a 100+ year interglacial since the earth entered the present icehouse earth climate period." There's never been a period with 7 B humans dumping fossil carbon in the atmosphere, either. "No wonder Arrhenius was pro-coal burning." Arrhenius was expecting it to take 3000 years to get to these levels, not 120. = BIG OIL ABANDONS ARCTIC DRILLING RIGHTS: bloomberg.com “… Royal Dutch Shell, ConocoPhillips and other companies have quietly relinquished claims they once hoped would net the next big oil discovery… For Shell and ConocoPhillips, the decision to abandon Arctic acreage was formalized just before a May 1 due date to pay the U.S. government millions of dollars in rent to keep holdings in the Chukchi Sea north of Alaska… Shell last year ended a nearly $8 billion, mishap-marred quest for Arctic crude after disappointing results from a test well in the Chukchi Sea. Shell decided the risk is not worth it for now, and other companies have likely come to the same conclusion, said Peter Kiernan, the lead energy analyst at The Economist Intelligence Unit. All told, companies have relinquished 2.2 million acres of drilling rights in the Chukchi Sea — nearly 80 percent of the leases they bought from the U.S. government in a 2008 auction. Oil companies spent more than $2.6 billion snapping up 2.8 million acres in the Chukchi Sea during that sale, on top of previous purchases in the Beaufort Sea… ConocoPhillips formally relinquished its 61 Chukchi Sea leases on April 26… Statoil dumped 16 Chukchi Sea leases and its working interest stakes in 50 others in the U.S. Arctic last November… Iona Energy Inc., a Canadian oil and gas company that began insolvency proceedings last November, ceded its one lease in the Chukchi Sea on March 31. Italy’s Eni SpA also gave up four leases in the Chukchi Sea on April 28… Shell is holding on to one lease in the Chukchi Sea: the tract it drilled last year. Smith said Shell is maintaining that lone lease — at a potential cost of $132,456 over the next four years — because there is value in the data the company gathered during its 2015 exploratory drilling. Companies generally have to give the U.S. government the geological information they glean from oil and gas development in federal waters, but they can get an extra two to 10 years to turn over that data as long as they still hold the territory… Now, only 535,586 acres remain locked up in the Chukchi Sea. Besides Shell’s one lease there, the tracts are in the hands of just one oil producer: Spain’s Repsol SA. Spokesmen for the company did not return requests for comment. It could be years — if ever — before oil companies get another chance to buy drilling rights in the region. The United States could turn around and resell the forfeited leases if any companies actually wanted to buy them, but the Interior Department canceled upcoming lease sales amid low industry interest last year. The Interior Department is considering selling leases in the Beaufort Sea in 2020 and the Chukchi Sea two years later, but those auctions are far from certain, and environmentalists are pushing the Obama administration to rule them out entirely… Even beyond the United States, there are strong headwinds discouraging oil companies from sending drill bits spinning below Arctic waters. Last month, Shell withdrew an application for a drilling license in Norway’s share of the Arctic Ocean.