Exxon Strikes Arctic Oil As a New Cold War Casts a Chill

The video discusses the discovery of oil in the Arctic by Russia's Russneft and Exxon Mobil, potentially more than in the Gulf of Mexico. However, US sanctions prevent Exxon from continuing operations with Russia in the Arctic. The video details the logistical challenges and high costs of Arctic exploration, including a complex journey to the drilling site. Despite operational difficulties and impending winter, Russia plans to continue drilling. The stakes are high for both companies, with Exxon's significant prospects in Russia hindered by sanctions. The video concludes with the uncertain future of Arctic drilling and the impact of geopolitical tensions.

What major event occurred in the Arctic involving Russia's Russneft and Exxon Mobil?

• They discovered a new species of fish.

• They struck oil, potentially more than in the Gulf of Mexico.

• They found a new shipping route.

• They established a new research station.

What is one of the main reasons for the high cost of the Arctic drilling operation?

• The need for advanced technology.

• The long and complex logistics to reach the site.

• The high salaries of the workers.

• The cost of environmental permits.

What deadline was set for Exxon and its subcontractors to leave the Arctic?

• End of September

• 10th of October

• 1st of December

• 15th of November

What is the main challenge faced by Rosneft and Exxon in their Arctic venture?

• Environmental protests

• Lack of skilled labor

• Sanctions imposed by the United States

• Technical difficulties in drilling

What might Russia do if Exxon is unable to return to the Arctic?

• Focus on other regions for oil exploration

• Seek partnerships with other countries

• Abandon the drilling project

• Continue drilling and take the spoils independently