President Obama to allow more Arctic drilling

President Barack Obama’s administration will allow more drilling in Arctic waters, although it will be at a pace that involves more research before additional permits are granted. In a conference call with reporters, Interior Secretary Ken Salazar said the administration will hold new lease sales, which won’t be issued until 2016, for oil companies to drill in the Chukchi and Beaufort Seas, just north of Alaska. “These resources, if developed safely, can be an important component to the all-of-the-above energy strategy,” Salazar said.

The president’s administration is hoping the decision will discharge criticism that it’s not moving fast enough to allow more domestic energy production. The plan is also designed to satisfy both drilling advocates and environmentalist.