"Oil industry efforts to develop the American Arctic took another hit today as ConocoPhillips scrapped plans to drill in the Chukchi Sea in 2014."

"Blaming regulatory uncertainty, ConocoPhillips issued a statement that the firm 'has determined it would not be prudent at this time to make the significant monetary commitments needed to preserve the option to drill in 2014.'

ConocoPhillips officials specifically took aim at the Interior Department's recent assessment of Royal Dutch Shell PLC's 2012 oil exploration program."

Margaret Kriz Hobson reports for Greenwire April 10, 2013. [2]