On April 20, 2010, the Transocean Deepwater Horizon suffered a catastrophic blowout while drilling in a BP lease in the Gulf of Mexico’s Macondo Prospect. This accident resulted in the largest oil spill in US history and an unprecedented spill response effort.
The Premier of Alberta is in town promoting the Keystone XL pipeline. She fielded questions at the Brookings Institution, and regarding a question referring to last month’s spill in Arkansas said "these are very isolated incidents, and they don't happen as often as people might suggest that they could."
Shell Oil Company is seeking permits to drill exploratory oil wells in Arctic waters off the northern shores of Alaska. In light of the recent Deepwater Horizon oil spill in the Gulf of Mexico, does expanded Arctic oil drilling and production make economic sense for the United States? What effect would Arctic oil have on U.S. energy security, and what social costs and benefits would come into play if new drilling permits are granted?