This affects us all.
Previous scientific work has shown that the diminishing ice cover in the East Siberian sea is allowing the waters to warm and the methane to leach out. Scientists have found plumes of the gas up to a kilometer in diameter rising from these waters.
The Environmental Audit Committee reported that oil companies were unable to prove their ability to clean up an oil spill in the harsh conditions. Members renewed their call to halt new drilling, saying it was risky for the climate and the environment.
Last month, the International Energy Agency warned that two-thirds of existing fossil fuel reserves cannot be burned before 2050 if global temperatures are to be kept within the projected danger threshold of a 2C rise. Exploring for new reserves in the Arctic is therefore needlessly risky.
Scientists report large amounts of methane released from thawing permafrost in the Arctic could have huge economic impacts on the world. It is thought that up to 30% of the world's undiscovered gas and 13% of undiscovered oil lie in the waters. Transport companies are looking to send increasing numbers of ships through these fast melting seas. According to Lloyds of London, investment in the Arctic could reach $100bn within ten years.
There you have the reason why nobody wants to prevent the drilling. Money. Profit. Greed. I could cry for the Earth. I beg forgiveness, 'for they know not what they do'.