Shell Oil Co. had to postpone its Arctic drilling until 2014 after one of its oil rigs ran aground off the Alaska coast this winter, but Shell’s efforts to open a new frontier of oil exploration in the Arctic Ocean continue in Puget Sound.
The oil giant passed a key test with federal regulators in March in the waters off Anacortes, Wash., north of Seattle.
While policymakers debate the government’s budget, the Brookings Institute, a private nonprofit research organization, decided to host their own brainstorming session. They asked experts from all different fields to submit ideas for responsible deficit reduction.
One expert, Harvard professor Joseph Aldy, drafted a proposal eliminating oil and gas tax subsidies. A move Aldy estimates would save the US government $41 billion over 10 years.