As the planet heats up, due to greenhouse gas emissions, this leaves the Arctic ice-cap melting at record speeds for the 2nd year running. Underneath that ice-cap is a land under the sea, filled with rich oil reserves and fossil fuels. As Americans focus on the fact that gas prices are above $4.00 per gallon, there is pressure to use those reserves in order to wean the US off of foreign oil reserves and save money by drilling at home.
Many American companies, like EGPI FireCreek [OTCBB: EFCR], can jump at the opportunity to grow their business, and help Americans’ in their wallet, both by lessening the cost of fuel and creating more job at home for those of us hit by this declining economy.

While many support the idea of at home drilling, others are speaking out because of the dangers of oil spills. Some rigs have had blowouts that surpass the Exxon Valdez spill from 20 years ago and they don’t want that happening in the Beaufort and Chukchi seas off Alaska. The big companies, like Shell, say they have the latest clean-up technology and are environmentally responsible, going about and drilling for oil.

Many residents will be affected, such as fishermen and the native people who worry the food supply will be contaminated or diminished.

This battle has turned political; Governor Palin wants to see the off shore drilling, while Obama does not. It’s hard to weigh the concerns since the political realm is so heated, we will see who wins come November 4th.

http://news.bbc.co.uk/1/hi/sci/tech/7609811.stm

Labels: alaska, arctic, arctic ice-cap, EFCR, EGPI Firecreek, global warming, ice-cap melting, offshore drilling, oil industry, Palin, Political, shell oil