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The world still harbors large reserves of petroleum, but they are of the hard-to-reach, hard-to-refine, “tough oil” variety that will be more costly to extract, refine and buy at the pump.
Flickr / Ulrich Latzenhofer
U.K.-based Cairn Energy suspended deep-water drilling operations on a platform off the southwest coast of Greenland after Greenpeace activists boarded the rig to demand the release of the company’s unpublished oil spill response plan. (more)
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