Despite 5 years and almost $4 billion of effort, Shell Oil Company will be unable to drill off the northern coast of Alaska, thanks to EPA's decision to withhold certain permits. The Fox News articl
e which has the report explains that oil drilling on the North Slope/Trans Alaska pipeline is declining.
Estimates for how much oil is available to the U.S. in the Arctic Ocean, where Shell would have been working, comes in at 27 billion barrels of oil, the article says.
Not very good PR news for an administration to limit drilling as gasoline prices skyrocket.