Russia Moves to Drill in Arctic

The prospect of drilling for oil in Arctic waters has long made Americans and Canadians queasy (if not their oil companies), and for good reason: the frigid cold, dangerous waters, and difficult-to-navigate coastal terrain. An offshore spill in the Arctic would be devastating, and exceedingly tough to contain. But faced with dwindling onshore supplies, Russia has made a concerted push to begin drilling in the Arctic, and in a highly publicized move, tapped none other than BP to help lead the charge. Now, Russia is accelerating its march towards the Arctic -- and a number of Western companies are following suit.