Greenland Melt Spawns Iceberg Threat in Search for Offshore Oil

Oil companies off Greenland’s shores may be basing risk assessments on outdated information as icebergs splinter the island’s coastline at an ever faster pace, scientists and environmentalists said. Last month, an iceberg twice the size of Manhattan broke off a glacier on north-western Greenland, and 97 percent of the island’s surface ice melted. Companies awarded exploration blocks off the coast of Greenland, which the U.S. Geological Survey estimates could hold 50 billion barrels of oil and gas, include Cairn Energy Plc (CNE) and Royal Dutch Shell Plc. (RDSA) Explorers are turning to the world’s least hospitable areas as resources in easier-to-access places such as the North Sea dwindle. See full Article.