Oil Company Stops Drilling without Environmentalists Forcing a Halt

An oil company already has market incentives to not drill too much and to preserve resources for the future. An oil company stopped drilling in the Arctic. Environmentalists rejoiced. But this shows us something about resource management. According to The Associated Press, “Shell ceases Alaska Arctic drilling, cites disappointing results from exploratory well.” Royal Dutch Shell will cease exploration in Arctic waters off Alaska’s coast following disappointing results from an exploratory Read more […]