Shell gets Interior's clearance for Alaska drilling plan

12/7/2009 | Forbes

The Interior Department gave conditional approval to Shell Oil's drilling proposal in Alaska's Chukchi Sea. The company spent $2.1 billion last year for Chukchi Sea leases when then-President George W. Bush's administration allowed drilling on 30 million acres in the area. "By approving this exploration plan, we are taking a cautious but deliberate step toward developing additional information on the Chukchi Sea," Interior Secretary Ken Salazar said.

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