Obama blocked shelf for Trump

Nikolai Ivanov, Head of the Energy Markets sector of the Energy Department of the Institute for Energy and Finance, commented to the Gazeta.ru internet portal on the prospects for struggle of American companies for oil resources in the Arctic:

«… At the current price level, hardly anyone will risk investing in Arctic projects," the expert explains. «This is a very massive, multi-billion dollar one-time investment." American companies could be more interested in the Atlantic shelf, but, according to Ivanov, American oilmen now have no shortage of new licensed areas, there is no need to invest money urgently to make them work. In Ivanov’s opinion, amid volatile prices, American companies are mainly engaged in «balancing and survival.»

The commentary is available at: https://www.gazeta.ru/business/2016/12/20/10439009.shtml