Interesting article - any predictions?


Riches in the Arctic: the new oil race

New geological surveys show as much as a fifth of the world's undiscovered but exploitable gas and oil reserves lie under the Arctic ice. As the ice melts, the pristine wilderness could become 'the new Houston'. By Michael McCarthy

It is the increasingly rapid melting of the Arctic sea ice which is opening up the possibility of the once frozen wasteland providing a natural resources and minerals bonanza

The future of the Arctic will be less white wilderness, more black gold, a new report on oil reserves in the High North has signalled this week. The first-comprehensive assessment of oil and gas resources north of the Arctic Circle, carried out by American geologists, reveals that underneath the ice, the region may contain as much as a fifth of the world's undiscovered yet recoverable oil and natural gas reserves.


This includes 90 billion barrels of oil, enough to supply the world for three years at current consumption rates, or to supply America for 12, and 1,670 trillion cubic feet (tcf) of gas, which is equal to about a third of the world's known gas reserves.

The significance of the report is that it puts firm figures for the first time on the hydrocarbon riches which the five countries surrounding the Arctic – the US, Russia, Canada, Norway and Denmark (through its dependency, Greenland) – have been eyeing up for several years.

It is the increasingly rapid melting of the Arctic sea ice, which last September hit a new record summer low, and of land-based ice on Greenland, which is opening up the possibility of the once frozen wasteland providing a natural resources and minerals bonanza, not to mention a major new transport route – last year the fabled North-West Passage from the Atlantic to the Pacific along the top of Canada was navigable for the first time.

Scientists consider that global warming is responsible for the melting, with the high latitudes of the Arctic warming twice as fast as the rest of the world.

Much more here: Riches in the Arctic: the new oil race - Green Living, Environment - The Independent

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Happiness is always a by-product. It is probably a matter of temperament, and for anything I know it may be glandular. But it is not something that can be demanded from life, and if you are not happy you had better stop worrying about it and see what treasures you can pluck from your own brand of unhappiness.
- Robertson Davies

Who owns it?

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"Have you no decency, sir? At long last, have you left no sense of decency?"
-Joseph Welch

let the games begin! i imagine countries will start trying to claim it at some point. although it would seem to me that canada, russia, etc. (the countries who 'touch' the arctic circle) should probably at least have a claim on it

once it warms up would be nice in the summer - nearly constant sun. however, in the winter would be a nightmare with constant darkness (not to mention still darn cold temps).

Well, if y'all recall, Russia already dumped a little Russian flag on the seabed up there.

__________________
"Have you no decency, sir? At long last, have you left no sense of decency?"
-Joseph Welch

The five countries surrounding the Arctic – the US, Russia, Canada, Norway and Denmark (through its dependency, Greenland) – all feel they have a claim, I assume. I doubt that the world court will have much say in it.

That's the interesting part - as in the chinese proverb.....interesting times.

__________________
Happiness is always a by-product. It is probably a matter of temperament, and for anything I know it may be glandular. But it is not something that can be demanded from life, and if you are not happy you had better stop worrying about it and see what treasures you can pluck from your own brand of unhappiness.
- Robertson Davies