While some green organisations are celebrating Shell’s announcement to stop drilling for oil in the Arctic, others find the decision disappointing.
According to the Arctic Slope Regional Corporation (ASRC), which represents the business interests of the Arctic, the news affects the viability of the region’s economy.
President and CEO of ASRC Rex A. Rock said the announcement slips the region’s business opportunities away as it is also facing a “financial crisis”.
The corporation urges the US government to develop regulatory certainty for future offshore projects in the region.
Crawford Patkotak, ASRC chairman of the board stressed added: “We call on the federal government to serve as our partners to ensure we continue to have responsible development on the North Slope. We need the tax base we need new oil in the Trans-Alaska Pipeline. Stop fighting Alaska Natives at every turn and work with us… Don’t turn your backs on the people of the North Slope instead, join us to develop a sustainable solution.”