Russia And The Arctic: The Obama Legacy -- March 12, 2019

Another footnote for the Obama presidency chapter in the next edition of US History: under President Obama, the US ceded the Arctic to Russia, the Canadians, the Norwegians, the Danes. See this post. The original post was dated May 11, 2013. Truly amazing. Now this story: Russia's next oil boom is happening in the Arctic. Memo from Vladimir to Barack: thank you, Mr Obama.

One of the major challenges of the 21st century is without doubt climate change.

For most countries, global warming poses a serious threat. Russia, however, has identified opportunities when it comes to the changing climate and the gradually decreasing icecap of the Arctic region. Moscow’s Arctic Strategy is intended to provide an edge for the Eurasian country in the areas of energy and defence while at the same time promoting the Northern Sea Route as an alternative shipping route.

Russia has vast oil and gas reserves in the Arctic. In terms of technically recoverable energy, the region contains as much as 90 billion barrels of oil and 47 trillion cubic meters of natural gas of which the Russian zone has the largest share, 48 billion barrels of oil and 43 trillion cubic meters of gas respectively. It amounts to 14 percent of its oil and 40 percent of its gas reserves. Despite global warming, the harsh weather conditions in the Arctic region require specialized infrastructure to extract and transport the oil to consumers.

Russia regards the Arctic as a strategic area where it is willing to invest significantly to secure the largest and most important share for itself. Moscow supports its claim by arguing that the crust structure of the Lomonosov ridge corresponds to the nearby Russian continental shelf which gives it the sole right to exploit much of the Arctic region. For this purpose, the Arktika research expedition vessel was dispatched in 2007.

Moscow is expanding its Arctic infrastructure with massive investments which dwarf those of the remaining littoral states. If the other Arctic countries do no begin investing in critical infrastructures such as harbors, airports and ice breaks, they could soon find themselves left behind in a new race for the North Pole.

Much more at the link.

Of course I don't agree with the premise of the disappearing Arctic ice cap (which turns out not be true except on the far western Arctic where it coincidentally / ironically benefits Russia. God has a sense of humor.

The big takeaway for me: regardless of what side of the global warming fence one stands, the writer suggests that Russia was looking for ways to take advantage of global warming, whereas the Obama administration -- like the Carter administration on peak oil -- simply wrung its collective hands, made speeches, and told Americans "it was out of our control."