To start off, oil drilling most certainly is seen as a means to damage the environment but in California, it actually is found that this serves more benefits to the aquatic environment and the atmosphere as well. The fact that this basically has caused a decrease in hydrocarbon seepage rate through means of reduction in the subsurface reservoir pressure. Considering the fact that California oil field is tailored and recognized as the representative of the world oil fields, then chances are that this could result in a reduction around the globe. If you are to look into the deeper specifics and findings, scientists think that because of oil mining, there is a decrease in the natural hydrocarbon seepage, which, also means that this causes global reduction of the rates of natural methane emission. Read more here

As per its benefits economically, you could find and see that oil drilling basically opened up a number of job opportunities as the entire process to get it done requires a plethora of people to ensure that things are being operated accordingly. Furthermore, this also has affected other industries as well such as shipping and transportation, which, also opened up a number of employment opportunities in the said industries. You could see that oil mining in Russia actually made a huge impact as well because you could find new middle class which have emerged, and actually helped and boosted the Russia economy. This means that Alaska would open up thousands of new job positions if the US were to start and drill oil there. This also means that the country will cut the need to import as much oil and should also be a cause and reason of a decrease in energy price. Click here for more