Why did Shell walk away from Alaska?

Shell’s Polar Pioneer in Unalaska on Monday, Oct. 12. The rig is heading for Washington State. (Photo: John Ryan, KUCB)
When Shell announced it was pulling out of the Arctic “for the foreseeable future,” it surprised just about everyone. Many in Alaska had high hopes for offshore drilling — from an Arctic economic boom to more oil for the Trans Alaska Pipeline. Shell’s announcement left the state wondering what to blame — low oil prices? Tough regulations