Arctic Oil Is Booming Despite Strong Opposition

Arctic oil and gas drilling is enjoying strong interest—and not just from Russian companies—despite the political rush to transform the world’s energy systems and remove fossil fuels from them. A new report by Reclaim Finance, an organization that seeks to build a financial sector that will support the energy transition, has found that oil and gas companies had plans to increase their output in the Arctic by 20 percent over the next five years. “These Arctic ‘expansionists’ – such as Gazprom, Total and…