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Global Politics of Offshore Drilling

This story was filed by CBS News foreign affairs analyst Pamela Falk, reporting from United Nations Headquarters.

When President Obama gave the green light this week to offshore oil drilling, he sent Secretary of State Hillary Rodham Clinton to Ottawa to negotiate Arctic drilling guidelines with Canada, Russia, Norway and Denmark. Sparks flew.

Canada's Minister of Foreign Affairs, Lawrence Cannon, discussed with CBS News how to balance national security and environmental concerns as the ice melts in the Arctic sea and the North Pole.

Oil and gas companies are chomping at the bit to start drilling, and to navigate a quick route between Asia and Europe. Security issues abound.

Above: Minister of Foreign Affairs Lawrence Cannon shakes hands with U.S. Secretary of State Hillary Clinton as she arrives at the morning session of the G8 Foreign Ministers meeting in Gatineau, Quebec, March 30, 2010.

Cannon said it has to be full steam ahead, and he had some advice for the Obama administration on how to balance environmental concerns with the insatiable thirst for oil.

Click on the player below to watch the interview:

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