OIL COMPANY WINS PERMIT TO DRILL OFF OF CANARY ISLANDS
The Spanish government has given oil group Repsol the go-ahead to begin drilling in the Canary Islands. Repsol, which has long sought approval to tap what may be Spain’s most significant oil source, has been held up by environmental concerns and government delays for over a decade. Now, the industry ministry has granted the company a three-year license to drill in several sites off the coast of the archipelago. While the Spanish government states that its decision was backed by rigorous scientific research, the drilling project has been met with strong opposition. Local governments and community groups fear the negative effects of a potential oil spill on tourism and the environment. Green organizations, including Friends of the Earth, Greenpeace, and WWF, have announced that they will appeal the oil exploration decision. Repsol’s license requires the company to provide a guarantee of 20 million euros to cover its environmental responsibilities and to halt operations if seismic activity exceeding 4.5 on the Richter scale occurs. For the full story, see http://www.skynews.com.au/news/world/europe/2014/08/15/spain-s-canary-islands-fume-over-oil-drill.html and http://www.bloomberg.com/news/2014-08-13/repsol-wins-final-permit-to-drill-for-oil-off-canary-islands-1-.html. Earlier: http://elr.info/international/international-update/spanish-supreme-court-opens-door-drilling-canary-islands.