Teams from different countries around the world race to the Artic in an attempt to claim the riches of this region.
As the polar ice caps melt, the discovery of oil, diamonds fish, and even new shipping routes has lead to a worldwide race to claim what is now being found under the ice.
A survey by the U.S. Geological Survey department estimates that roughly 25 percent of the world’s undiscovered oil lies underneath the frozen tundra of the Artic.
Regardless of climate change, oil and gas exploration in the Arctic is moving full speed ahead. State-controlled Norwegian oil company Statoil ASA plans to start tapping gas from its offshore Snoehvit field in December, the first in the Barents Sea. It uses advanced equipment on the ocean floor, remote-controlled from the Norwegian oil boom town of Hammerfest through a 90-mile undersea cable.
Alan Murray, an analyst with the consulting firm Wood Mackenzie, said most petroleum companies are now focusing research and exploration on the far north. Russia is developing the vast Shkotman natural gas field off its Arctic coast, and Norwegians hope their advanced technology will find a place there.
The Northwest Passageway has been staying open longer because of the ice break-up in the Artic This is important because it cuts down on the travel time between Europe and the Far East. This has also caused a little controversy over control of tiny Hans Island that sits at the front of the Northwest passage. Both Canada and Denmark have laid claim to this tiny island, and as a result tensions between both countries sometimes happen.
At this point, neither country is about to declare war on each other, but with more countries being interested in going to the Artic in search of riches one never knows what will happen.
Of course, no one is asking the opinion of the Inuits and the Sami even though these were the first people to settle on Hans Island.
As global warming continues, look for the tension level between countries around the world to rise over control of the Artic.
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