If so, a future Phase 2 project could drill deep exploration wells (> 1 km depth) to design a functional and economically beneficial geothermal system. (altarockenergy.com)
If exploration wells hit oil, production could begin within a few years. (globalwarming.org)
This is bound to be challenged by every single environmental group with a stake here, but it's still really not encouraging: New York Times reports that the Department of Interior has granted Shell conditional approval to start drilling oil exploration wells in the Arctic Ocean starting next summer. (treehugger.com)