Maybe, but drilling in the fragile Arctic is a recipe for disaster, and I hope that the wise voices prevail and it isn't approved. Of course, the Oil Companies continue to do a "Hey, trust me" with a smile, while holding a gun in one hand and a knife in the other behind their back.
Read an op article the other day written by the head of NASA Goddard Institute concerning the Canadian oil shale extraction. He predicts game over if they precede due to the CO2 locked in these sands and its release into the atmosphere. " Canadas tar sands, deposits of sand saturated with bitumen, contain twice the amount of carbon dioxide emitted by global oil use in our entire history. If we were to fully exploit this new oil source, and continue to burn our conventional oil, gas and coal supplies, concentrations of carbon dioxide in the atmosphere eventually would reach levels higher than in the Pliocene era, more than 2.5 million years ago, when sea level was at least 50 feet higher than it is now."