The explosion on Transocean Ltd’s drilling rig Deepwater Horizon in the Gulf of Mexico has made politicians, oil executives and environmentalists sit up and take notice that safety measures employed by maritime platforms extracting oil from the ocean floor could be wholly inadequate in the case of a serious accident.

The Deepwater Horizon was equipped with a “blowout preventer,” a house-sized metal device that was supposed to seal the pipeline that brings the oil to the surface shut. The President of BP America testified to the House of Representatives committee that this device was “fail-safe”. But, at the critical moment it did not work. Next a large cement “dome” chamber lowered over the well failed to contain the oil flow.

The fallout from this environmental disaster has been immediate. Now the US will not permit drilling in new undersea areas until the findings of the investigation into the Deepwater Horizon accident are known. In Canada there is a renewed concerned over the safety of drilling for oil and gas in the Arctic Beaufort Sea. No exploratory wells have yet been authorized, but oil companies have invested hundreds of millions of dollars to lease large areas of the seabed for exploration.

The response of Canada’s Environment Minister, Jim Prentice, to questions asked in the House of Commons about Beaufort Sea drilling following the Deepwater Horizon accident was low-key but confident. He stated that Canada protects this area by the most robust offshore drilling policies anywhere in the world.

Oversight of off-shore drilling is controlled by the National Energy Board, an independent federal agency that regulates parts of Canada’s energy sector. Oil and gas companies that want to drill in the Arctic must first get regulatory approvals from the Board. To do that, they must show they will drill relief wells in case of an accident or provide an alternative safety plan.

Oil companies have argued relief wells in the North are not practical, since it would take too long to drill them if there is an accident. It is hard to disagree, considering that to drill a relief well just offshore in the Gulf of Mexico could take two- three months. In the meantime the Deepwater Horizon well is spewing oil at the rate of 5,000 barrels a day.

The oil and gas companies continue to place their faith in blowout preventers, claiming that they have developed similar but newer technology that would shut down an Arctic well after a similar accident before it got out of control. Toronto Globe & Mail writer Eric Reguly bets on more exploration: his article (Business B2 May 13, 2010) is headlined “Is this the end of off-shore drilling? Not a chance”.  Click here to read the article.

Faith in newer technology is a characteristic response of businesses with economic interests to protect. But nature can prove to be too much for human artifice, and the consequences of a large scale oil spill in the Arctic could last for decades, if not centuries.

The stakes are high: please use the blog feature to tell us what you think!