Election to bring sea change in oil exploration?

With the governor of Alaska installed as John McCainÔÇÖs running mate, the battle over oil and gas exploration in Arctic waters could become a prominent issue in the upcoming presidential election.┬á  With the Arctic ice-cap melting more rapidly than usual for a second year running, and gas prices breaking through the $4 a gallon barrier, pressure is growing to exploit the reserves under the Arctic ocean. ┬áIn her speech accepting the Republican Party nomination as candidate for vice-president last week, governor Sarah Palin said the country needed to produce more of its own oil and gas. "Take it from a gal who knows the North Slope of AlaskaÔÇöwe've got plenty of both," she said. ┬áAround 85 percent of Alaska's revenue comes from oil, mainly from the North Slope. Prudhoe Bay is the highest yielding oil field in the United States, typically producing approximately 400,000 barrels per day.┬áThe question of whether to drill for oil in the Arctic National Wildlife Refuge (ANWR) has been an ongoing political controversy in the United States for 30 years. The ANWR is the largest protected wilderness in the United States and was created by Congress under the Alaska National Interest Lands Conservation Act of 1980. Drilling in this area requires Congressional approval.┬áEnvironmentalists fears a major oil spill in the Arctic waters would be disastrous, but Shell and other oil companies insist that they are environmentally responsible and ready with the latest clean-up technology. ┬á Governor Palin is a strong supporter of drilling for oil & gas in the ANWR. Barack Obama is not.   ┬á┬á*┬á┬á┬á┬á┬á┬á┬á┬á┬á *┬á┬á┬á┬á┬á┬á┬á┬á┬á *