European Parliament Rejects Proposed Arctic Oil Drilling Ban

The European parliament's industry committee has rejected attempts to introduce a moratorium on offshore oil and gas drilling in the Arctic, overruling a contrary vote by its environment committee last month.

The key vote in the industry committee yesterday (9 October) instead proposed a new directive to ensure that companies have "adequate financial security" to cover the liabilities that could be incurred by any accidents.

Drilling companies would also have to submit to national authorities a safety hazard and emergency response report at least 24 weeks before the planned start of operations.

#Oil #EuropeanUnion #Energy #Environmentalism