It’s quite a symbolic pick in the current climate:
She was mayor and a council member of the small town of Wasila and was chairman of the state Oil and Gas Conservation Commission, which regulates Alaska’s oil and gas resources, in 2003 and 2004… Palin has focused on energy and natural resources policy during her short stint in office, and she is known for her support of drilling in the Alaska National Wildlife Refuge, a position opposed by McCain but supported by many grass-roots Republicans. Her biography on the state governor’s Web site says one of the two major pieces of legislation passed during her first legislative session was a competitive process to construct a gas pipeline.
Palin started Alaska’s Petroleum Systems Integrity Office, an oversight and maintenance agency for the state’s oil and gas equipment, facilities and infrastructure. She created the Climate Change Subcabinet that would forge a climate change strategy, according to the biography. Palin chairs the Interstate Oil and Gas Compact Commission, a multistate panel "that promotes the conservation and efficient recovery of domestic oil and natural gas resources while protecting health, safety and the environment," the biography says.
The one national issue where she has made a mark is drilling in ANWR.