Setting the Record Straight on Arctic Energy

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Monday September 10, 2012 · 7:48 AM PDT

2012/09/10 · 07:48

The goal of all energy production must be to develop reliable, affordable supplies of energy in a safe manner that poses minimal environmental impact. Arctic oil and gas exploration represents a significant opportunity for America’s energy and economic future and a critical juncture for the United States in area of increasing geopolitical importance. With Royal Dutch Shell expected to begin drilling this month north of Alaska’s Arctic coastline, it’s time to address some public concerns in a rational, thoughtful way rather than through the heated accusations that have governed discourse on Arctic development thus far. We should also avoid looking at these issues through the silos that American political dialogue often creates and look at them through the pan-Arctic lenses of development in Norway, Russia, Canada and Greenland.

Hyperbolic assertions that Shell’s exploration program would be “game over” for the Arctic environment fail to consider the adaptability and capability of governance, science and technology to ensure economic and environmental sustainability and blithely ignore the achievements of international Arctic development to date. Balance is key. As is perspective.

First, we must acknowledge the sheer economic potential of the Arctic. The U.S. Arctic Outer Continental Shelf (OCS) could contain 27 billion barrels of oil and 132 trillion cubic feet of natural gas, which would make this the largest untapped basin of proven reserves in North America. Development of these resources would not only advance American energy self-sufficiency, but would also spur the creation of over 50,000 U.S. jobs and generate significant revenues for federal, state, and local governments for decades to come.

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