In May 2008, the U.S. Interior Department declared the polar bear a threatened species under the Endangered Species Act. But now the state of Alaska – led by Gov. Sarah Palin, John McCain’s new running mate – has sued to reverse the decision in order to open the possibility of offshore drilling.

On Friday, June 6, oil prices went past $138 dollars per barrel, and today retreated only slightly, while gas prices today rose above $4/gallon for the first time. See coverage and analysis at both Nightly Business Report and NewsHour.