Is Arctic drilling safe?

As the Obama administration tries to walk the line between environmental and economic interests, critics warn that the Arctic is too harsh for drilling

Kulluk
(Image credit: U.S. Coast Guard photo by Petty Officer 1st Class Sara Francis)

The Arctic Circle, the northernmost region of Earth that consists of the Arctic Ocean and the northern edge of eight countries, holds one of the planet's largest troves of untapped natural energy resources — an estimated 13 percent of the world's undiscovered oil (some 90 billion barrels), and 30 percent of the world's undiscovered natural gas.

These deposits, like so many others, are the source of a bitter fight between environmentalists wanting to protect the region and countries and companies who see their share of the resources as a potential economic boon — and their key to energy security.

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Carmel Lobello is the business editor at TheWeek.com. Previously, she was an editor at DeathandTaxesMag.com.