Late last year, President Obama issued an executive order to block drilling in the Arctic and Atlantic Oceans to preserve those territories. But the melting Arctic ice has opened up areas for possible drilling that had been buried just a few years ago. The opportunity brings up a compelling issue that is explored in a new paper from Sarah E. Light, a Wharton professor of legal studies and business ethics. Co-written with Wharton legal studies and business ethics professor Nicolas Cornell, the paper titled “ Wrongful Benefit & Arctic Drilling ” asks whether it should be permissible for companies to profit from past decisions that have proven to be detrimental. Light discussed the paper in detail during a recent appearance on the Knowledge at Wharton show  on Wharton Business Radio on SiriusXM channel 111 . (Listen to the podcast at the top of this page.) An edited transcript of the conversation follows.…