"...[T]o believe that the market will maintain its current risk assessment forever is to believe in the power of magical thinking. The economic and political stakes are overwhelmingly in favor of drilling. The White House is pushing for domestic sources of energy. Alaska's elected and tribal leadership will gain much from taxes on new economic activity. And our foreign competitors near the Arctic circle — including Russia, which sent an oil tanker through the Arctic during in December — are ready to plunge into the cold."