Oil production in the American sector of the Arctic is strictly regulated, so the oil companies more profitable to work in other Arctic countries. This was stated by the CEO of ExxonMobil, Rex Tillerson in an interview with the Associated Press. His words are quoted by TASS.
"The U.S. is lagging behind other countries [in the development of Arctic resources]," said Tillerson. "Today, we are very difficult to work in the American sector," he added. However, the potential for oil production in the Arctic region of the US is very significant, said CEO of the American company.
"There will come a time when all sources, now where oil is extracted, will begin to diminish. For this reason, it is necessary to explore the Arctic", said Tillerson.