I could be off in my math a bit, but if the five countries divide the $900 trillion evenly, the US should be able to cover its deficit.US Secretary of State Hillary Clinton took a first-hand look Saturday at the way a warming climate is changing the Arctic, opening the region to competition for vast oil reserves.Experts here estimate the value of the Arctic's untapped oil alone -- not including natural gas and minerals -- at $900 trillion, making it a huge prize for the five countries that surround the Arctic if they can reach it.
And with climate warming opening up some 46,000 square kilometres (18,000 square miles) a year that had once been bound in ice, the region is expected to burst open, not just with oil exploration but with East-West trade along a more accessible northern route.
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Saturday, June 2, 2012
Huge Energy Potential In The Arctic
Link here to AFP/Yahoo News:
Bruce:
ReplyDeleteIt will not be shared equally, the US portion will be off it's territorial waters, and the rest they are finishing up the sonar of the seabed now, Canada is finished, Russia is almost finished. Evertyhing is done according to UN treaty, signed onto by all the parties. Denmark owning Greenland will probably get more than the US.