By Roger Howard
An exploration of the political value of the Arctic's tremendous untapped wealth of typical assets, and a gripping account of the race to use them
On August 2, 2007, a Russian submarine captured global headlines through creating a harmful trip to the ground of the Arctic seabed and planting a steel, rustfree nationwide flag greater than 14,000 ft underneath the North Pole. the purpose was once to claim Russia's criminal sovereignty over a quarter whose significance had only in the near past began to turn into obvious as its melting ice had made, or was once anticipated to make, titanic usual assets open to exploitation.
The most modern estimates are that the area holds round thirteen% of the world's undiscovered oil and up to 30% of undiscovered usual fuel reserves that will be highly ecocnomic for any state that controlled to safe regulate over them. Gold, platinum, copper, and different valuable metals have additionally been stumbled on alongside the coast. Neighboring nations ― Russia, the us, Canada, Denmark, and Norway ― are already doing every thing they could to mark out new borders. the resultant political disagreements over the problem are already rife. particularly, video games of political intrigue among Moscow and Washington are being performed out within the quarter. yet because the world's assets turn into more and more scarce and important, may the scramble for Arctic assets develop into violent? may a "War for the Arctic" be fought?
Praise for The Oil Hunters:
"The Dramatic Days of oil exploration within the first 1/2 the 20 th century are narrated in gripping type through Roger Howard." -The Spectator
"A attention-grabbing tale for an individual drawn to one in every of present day major financial difficulties: tips on how to decrease the masses of billions that americans spend each year to import oil...the publication is full of intrepid geologists, risk-averse company humans, hardup Mideast rulers and inventive promoters- all interested in using up profits."-The linked Press
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Extra resources for Arctic Gold Rush: The New Race for Tomorrow's Natural Resources
2 Although some of the indigenous people they encountered along the way were friendly, others were deeply hostile. Five members of Frobisher’s crew rowed ashore near Alaska and were either kidnapped or killed by Inuits, while on one desperate occasion Frobisher himself had to run for his life, taking an arrow in his buttock from an Inuit marksman and ﬂeeing from the scene, in the words of one chronicler, ‘rather speedily’. Such dangers posed considerable risks not only for the seamen but also for their commercial sponsors.
Yesterday, for the ﬁrst time, we documented a ﬁeld where the release was so intense that the methane did not have time to dissolve into the seawater but was rising as methane bubbles to the sea surface. 17 The great thaw might also spring other surprises on the outside world. Some scientists fear that the preserved carcasses might contain deadly viruses that, after lying dormant for thousands of years, could suddenly return to devastate humanity. 18 But the main cause of concern about the Arctic thaw is its effect on global sea levels.
7 The sheer speed with which the frozen seas are melting is taking everyone by surprise, and numerous experts argue that the ‘ofﬁcial’ ﬁgure promulgated by the United Nation’s climate panel in 2007 drastically understates the sheer gravity of the crisis. Speaking at a seminar for scientists and politicians that was held in the Norwegian town of Ny-Alesund, the world’s most northerly permanent settlement, lying just 750 miles from the North Pole, and a centre of international scientiﬁc research into the region, Norway’s environment minister, Helen Bjoernoy, did not mince her words.