Reuters reported that the Environmental Protection Agency may provide Royal Dutch Shell plc (NYSE:RDS.A) with a temporary air permit to drill offshore Alaska as early as this weekend.
As quoted in the market news:
A compliance order the EPA will issue expires in a year and will not waive any of Shell’s permit requirements or any air quality standards, the agency said. Any proposed revisions to the permit will be subject to full public review and comment.
Shell has spent about $4.5 billion on its effort to drill Arctic oil, but the company has run into problems.