Replies to post #13778 on The Rising Influence of Rising Affluence

[DewDiligence]

As for the Arctic waters, forget about that. It will be economically difficult. Even more so now than when oil prices were double what it is now.

A company bidding for an Arctic lease in 2017 will be hoping to sell oil in the latter half of the next decade. So, if the lease is cheap enough and it doesn't mandate development, there's not much risk from putting in a bid.