BP ditches plans to drill for oil in the Great Australian Bight

Decision follows outcry by environmentalists over risk to delicate marine ecosystem, safety concerns and a corporate review within the companyBP has decided not to go ahead with its controversial plans to drill for oil in the commonwealth marine reserve in the Great Australian Bight.It had boasted that the Great Australian Bight had the potential to be as big an oil field as the Gulf of Mexico, where there are now more than 4,000 oil rigs. Continue reading...