Exxon Mobil Corporation(NYSE:XOM) has collaborated
with Russia’s Rosneft to drill for exploration purposes of radiation wastes in
the Kara Sea. The site is near a location where the Soviet navy had disposed of
17,000 loads of radioactive waste, old nuclear reactors, and holed a
nuclear-powered submarine.
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But Exxon and Rosneft have assured that they would
take the best precautions while drilling in the sensitive area. Edward
Gismatullin writes in his report that radiation levels have not changed in the
area since 18 years, which means that the waste poses no threat as of now and
is stable.
The area in question under the Kara Sea might
contain billions of barrels of oil. Statoil and Eni will also be exploring in
the Arctic Barents Sea along with Rosneft. Since they will be drilling near
nuclear waste pumps, chances are that they will not need to go through the
regulatory and environmental hurdles like Shell, when it put in a request to
drill in the Chukchi Sea north of Alaska.
According to data recorded at the Hanford
Reservation in Washington State, US has played a significant role in disposing
radioactive wastes into the sea. The DoD had generated 74 tons of plutonium for
warheads during the Cold War. 53 million gallons of plutonium-laden sludge was
left in underground tanks and radioactive waste-filled water was dumped into
the Pacific Ocean and Columbia River.
Shares of XOM are down 0.40% in Wednesday’s session.
The stock made a 52-week high of $92.57 in yesterday’s session
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