Despite the fact that part of the Arctic National Wildlife Refuge (ANWR) has been declared open to drilling, low oil prices and abundance of onshore shale deposits makes the Arctic currently less attractive for development, the Executive Director of the International Energy Agency (IEA), Fatih Birol, has told a U.S. Senate committee, adding that he didn’t expect substantial volumes of oil from that region before 2030 . “With the current context, it will be difficult to believe that there will be a substantial amount of oil production coming from that region before 2030, unless we see some surprises in the markets,” Birol told the Senate panel, as carried by Axios. “We’re going to start drilling in ANWR — one of the largest oil reserves in the world — that for 40 years this country was unable to touch,” U.S. President Donald Trump said after the passing of the tax […]