The Rising Influence of Rising Affluence

[DewDiligence]

Shell throws in the towel on Arctic drilling in 2014, and probably ever (IMO):

http://online.wsj.com/news/articles/SB10001424052702304428004579351961251795956

Royal Dutch Shell PLC on Thursday said it would abandon drilling in the U.S. Arctic… The oil major's decision to halt a project in offshore Alaska comes after a federal appeals court ruled last week that the U.S. government improperly relied on "inadequate information" in the process of awarding licenses for exploration there, which the company said Thursday "raises substantial obstacles to Shell's plans."

Reasonable decision; throwing good money after bad is probably not what shareholders want to see from the new CEO regime.