With the new listing of the polar bear under the ESA, oil companies have begun to look at confronting the new environmental standards posed by the listing in court. Photo courtesy the AP.
Story Created:
May 15, 2008 at 11:19 AM AKST
Story Updated:
May 20, 2008 at 7:31 AM AKST
Following the polar bear listing decision made by the Interior Department on Wednesday, the oil industry has begun to ratchet up its legal arsenal. The industry is preparing for courtroom battles to maintain their stake in Alaska's oil fields.
With the listing of the polar bear as threatened under the Environmental Species Act, major oil companies like ConocoPhillips, BP PLC, Exxon Mobil Corporation and Royal Dutch Shell PLC stand to incur the greatest loss.
Under the ESA species may be listed as endangered, or threatened as is the case with the polar bear, if said specie's habitat is under threat of total loss.
This could affect the oil companies, who have either huge stakes in current North Slope production or future exploration.
Executive director of Alaska Oil and Gas Association, Marilyn Crockett, said she's concerned the decision will bring a number of prolonged court battles over oil future exploration and production.
17 oil and gas companies plus the owners of a trans-Alaskan pipeline are all represented by the AOGA.
