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Rushing for the Arctics riches

2013-12-08 15:00:00| Climate Ark Climate Change & Global Warming Newsfeed

New York Times: WHILE many existing oil and gas reserves in other parts of the world are facing steep decline, the Arctic is thought to possess vast untapped reservoirs. Approximately 13 percent of the worlds undiscovered oil deposits and 30 percent of its natural gas reserves are above the Arctic Circle, according to the United States Geological Survey. Eager to tap into this largess, Russia and its Arctic neighbors Canada, Norway, the United States, Iceland and Denmark (by virtue of its authority over Greenland)...

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