Trump World Grab-Bag--A Collection

Sunday, September 28, 2014

Climate Sunday: Oil Under Them Thar Ice Floes

Here's the sort of news story that makes one fairly certain that people in the oil industry are missing all of the points regarding climate change:

Russian energy giant Rosneft says it has discovered oil with its US project partner Exxon Mobil at a controversial well in the Arctic.

Drilling was completed in record time, it said, but questions remain about how quickly the well can be developed.

Exxon has said it will "wind down" the project following US sanctions against Russia over its actions in Ukraine.


Rosneft boss Igor Sechin, himself a target of US sanctions, said the well had produced "an astonishing sample of light oil".
Sure. They've got that nice, easy to drill, easy to refine stuff. Good for them. Still and all, is this where they seriously want to develop a drilling infrastructure and transport system? Because, I don't know. Light crude or not, it still seems a bit dear, you know?

"Astonishing samples' aside--is this the sustainable model? The Artic? Are petrocorps that much persuaded this is the future (especially as global warming reduces the ice in the area)? They are exploring an area they only can explore because the use of this kind of fuel has changed the geography to make it more accessible. Are they counting so much on the idea it won't change in less agreeable ways? Or are they just planning on selling gas-powered air conditioners to the polar bears?

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