Shell announced this morning that it is scrapping its plans to drill in the arctic. Was this decision made due to climate change, environmental impacts, public outcry, or the efforts of kayaktivists? Of course not. Shell decided to stop drilling in the arctic because it turned out that it wasn't financially feasible.
On the one hand, this is great news for my Seattle friends and activists who participated in kayak barricades to protest the arctic drilling. As more and more sources of oil dry up or become too cost-prohibitive to access, oil companies will likely have no choice but to actively pursue and develop alternative energy sources. That's great news for the planet and pretty much everyone with a soul.
But, on the other hand, today's decision comes with a sobering reminder: it's dollars, not people or the planet, that remain the bottom line. Shell didn't make this decision because it was the right thing to do –– Shell gave up their dangerous arctic drilling endeavor simply because it didn't live up to their financial expectations. And because, apparently, their analysts are incompetent.
Who run the world? Dollars.