The Arctic holds nearly one-quarter of the world’s undiscovered oil and gas resources, with U.S. waters in the region home to an estimated 27 billion barrels of oil and 132 trillion cubic feet of natural gas. Experts say that’s enough to create millions of jobs, billions in revenue, and heat every home in America for more than 30 years. That’s very promising news for the United States as the demand for oil is expected to rise in the coming decades. What’s not promising is that several of our greatest economic rivals like Russia and China are already in position to intercept these much-needed resources by exploiting new shipping lanes that have opened up – and will continue to open up – because of melting sea ice. And we, to date, are not. That needs to change – and in a hurry, according to a recent report by the National Petroleum Council (NPC). In adopting the report co-authored by a diverse group of government regulators,...(Read Full Article)