Oil majors must continue exploring offshore Arctic sites for potential fields for the foreseeable future so that energy sources are on hand when the current land-based shale boom comes to an end an Exxon executive told an audience at the University of Houston, according to the Houston Chronicle.
The company’s senior Arctic consultant, Jed Hamilton was part of a panel debate when he advocated continued exploratory drilling in the hostile conditions of the Arctic despite the risk to habitats and wildlife if the drilling goes wrong.
He also argued that preventive, containment and salvage technologies are better than ever in the event of a mishap, although some fellow panellists and audience members expressed scepticism on that point.
