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Obama administration strengthens Arctic drilling restrictions

Obama administration strengthens Arctic drilling restrictions

The Obama administration has made it harder to drill for oil in the Arctic Ocean – not that many companies are trying to do so these days.

After years of revision, the administration announced final rules late last week that require companies working in the offshore Arctic to put in place new safety precautions to prevent and contain oil spills in the remote and forbidding region.

Yet with the price of oil low and the cost and perils high, there currently are no companies drilling offshore and none with immediate plans to do so.

Last fall, citing “current market conditions and low industry interest,” the administration canceled planned lease sales in...

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