While President Obama advocates for a tough stance on climate change in Alaska this week,Royal Dutch Shell is preparing to drill for oil in the Arctic Ocean off Alaska's northwest coast for the first time in more than two decades. Shell won approval for it's application to drill from the Obama Administration back in May.
Even without a drop of oil found, it is believed that Shell has spent more than $7 billion making preparations for their venture, and many Alaskans anticipate seeing a chunk of that investment in their local economies.
Dan Dicker,the author of "Shale Boom, Shale Bust: The Myth of Saudi America, and " discusses the economic and environmental impact of Shell’s proposed drilling.
Source: wnyc.org