July 13th, 2012
09:51 PM ET

Cold Wars: Battle for Arctic oil

Nearly two dozen ships on the move to the icy waters of the Arctic. Shell Oil is one step closer to discovering whether there is a bonanza of oil offshore of Alaska's north slope.

The prize, if it's there, a virtual gusher of oil that could spark a race between oil companies across the globe to drill in the Arctic.

Potentially a windfall, but this is an incredibly harsh place – it also happens to be home of a huge amount of wildlife and native Eskimo tribes that rely on those natural resources to survive.
Could arctic oil be the answer to America's energy woes? Or is it another deep water horizon in the making? Our Miguel Marquez traveled to far northern Alaska for answers.

Filed under: News
soundoff (One Response)
  1. Greg Louderback

    They never should never allowed it the first place.What about the refuge?Look how well they've done.How about the ongoing cleanup of the Michigan River.Not a world wide event.Something that is not seen by the world,not much attention. Plus the most dificult part would be the mistakes amplified by the harsh conditions.

    July 16, 2012 at 12:14 pm | Reply

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