Exxon makes oil deal with Russia

The Takeaway
The World

Alaskan waters remain off-limits to drilling, much to many oil companies’ dismay. But Exxon has decided to hop over the Bering Strait, and make a deal with Russia to explore for oil in the  Arctic  Ocean in their territory. This deal may show how lucrative climate change has become to the oil business, since more oil is becoming available as Arctic ice recedes. Lisa Margonelli, director of the Energy Policy Initiative at the New America Foundation, thinks this is an important deal because it shows a significant shift from natural gas back to oil.

Less than .05% of listeners will donate. Can we count on you?

Our coverage reaches millions each week, but only a small fraction of listeners contribute to sustain our program. We still need 224 more people to donate $100 or $10/monthly to unlock our $67,000 match. Will you help us get there today?