Of course not! Drilling in the sacred Arctic National Wildlife Refuge is bad for business. BP did the right thing by cancelling its plans to drill. What does BP know that other oil companies don’t? Chevron and Exxon, we’re looking at you.
Drilling in the Arctic Refuge would violate the human rights of the Gwich'in, the northernmost Indian Nation. Banks and investors have seen what happens when an oil company dares to infringe on the rights of Indigenous people, from the Dakota Access Pipeline to the Keystone Pipeline to the Trans Mountain Pipeline. Companies involved in drilling the Arctic Refuge put their brands at risk.
In late August, BP announced that it is selling its assets in Alaska, including its 49% share in the Trans Alaska Pipeline, and "non-operating interests in exploration leases in ANWR." BP is also one of two companies who has the results of a lone exploratory well drilled in the Arctic Refuge. Clearly, the results were not promising. This $5.6 billion sale to private company Hilcorp implies that the company sees the writing on the wall: Arctic drilling is bad business and a bad investment.