Arctic waters hold vast undiscovered hydrocarbon reserves, but will they ever be exploited?
Cheaper oil is for the moment driving people away from offshore Arctic exploration. Maybe this will give us time to step back, undertake detailed research, and analyse the pros and cons in a more informed and less intense manner. More discussion and cooperation between the Arctic nations is needed, particularly to look at technological solutions which could make drilling there reliably safer, both for the people involved and for the environment.At some time, the oil price will go up again. When it does and Arctic drilling becomes more economically feasible, we must have information available to know whether we can do it safely – and if we should do it at all.
