Canada Rules Out Arctic Oil Drilling Extensions

What was the main outcome of the announcement made by Justin Trudeau and Barack Obama regarding Arctic drilling?

• A reduction in taxes for oil companies

• A complete ban on all Arctic drilling activities

• A moratorium on future development in Arctic waters

• An increase in drilling activities in the Arctic

What is the primary concern for companies with exploration rights in the Arctic?

• The competition from other oil-producing countries

• The uncertainty surrounding their ability to fulfill work commitments

• The lack of skilled labor in the Arctic region

• The high cost of drilling equipment

How might Canada benefit if companies fail to fulfill their work commitments due to low oil prices?

• By imposing fines on the companies

• By taking over the companies' assets

• By increasing taxes on other industries

• By collecting on the unfulfilled commitments

What is a potential consequence of Donald Trump's administration on Arctic drilling regulations?

• A partnership with Canada to expand drilling

• A legal battle to reverse Obama's moratorium

• An increase in environmental protections

• A complete ban on Arctic drilling

What was a criticism of Trudeau's moratorium on Arctic drilling?

• It did not consider the views of Northerners

• It favored American companies over Canadian ones

• It was too lenient on oil companies

• It was implemented too quickly