• Prime Minister Stephen Harper announced a plan to spend $100 million over five years that sees the Canadian government boosting its spending on mapping out Arctic energy and mineral resources in an attempt to encourage development in the area. Years of exploration has revealed that there is gas in the Beaufort Sea, oil in the eastern Arctic, gold in the Yukon, diamonds in Nunavut. It is reported that the mapping program will use aircraft specially equipped with sensors used to create subterranean models, triggering what the government expects to be roughly $500 million in private sector spending on resource exploration and development.
  • Alaskan Governor Sarah Palin signed a bill giving the State the power to award TransCanada a license to build and operate its multi-billion dollar pipeline that will see natural gas shipped from Alaska's North Slope. The license to TransCanada would ensure that the State would not negotiate with any other developer, including BP and ConocoPhillips who are pushing the competing natural gas pipeline called Denali. TransCanada intends to build the 1,715 mile pipeline, with an estimated price tag of $26 billion, from Prudhoe Bay to an existing pipeline in Canada that will deliver 35 tcf of natural gas to markets.