(Post by Ashley Vecchio) The Global Oil Crisis in 1973, along with desires for energy self-sufficiency, led the federal government of Canada to grant Dome Petroleum Limited in 1976 the first drilling authority in the offshore regions of Arctic North America. This decision followed a three-year study of the potential environmental effects of offshore oil and gas development, sponsored jointly by the Canadian Cabinet and oil companies. Our study provides the first empirical examination of how the Cabinet came to their decision to allow offshore drilling, with specific attention to the definition and evaluation of risks and rewards, both economic […]