Most Arctic goodies belong to Russia – US study
Published 12 June, 2009, 02:34
With known reserves of oil and gas running out, the race to find more is on. Experts say all eyes are now focused on the Arctic.
Deep beneath the Arctic icecap and ocean floor lie huge stocks of natural resources, including gas, geologists say. And a new study in the U.S. says Russia owns the rights to most of them.
The report is authored by an American geologist from California, Dr. Donald Gautier, who worked with other international experts to gather data.
But while he’s sticking to the scientific side of things, these results are of colossal political importance.
Despite the freezing waters and unwelcoming environment, the Arctic is a hot topic in the political realm. As world supplies dwindle the Arctic’s untapped resources will play a key role in the future.
“As opportunities disappear elsewhere, the Arctic is the place that many companies and countries are looking to as the next place to find resources,” Dr Gautier says.
When it comes to the difficulties of developing resources in the Arctic, Russia already has the advantage. Not only does it have the longest Arctic border, it is also the only nation with an armada of nuclear ice breakers.
When geologists in California decided to work with experts worldwide, they may not have predicted that the results of their study would heat up the battle for the Arctic. And as natural resources become increasingly important, it may be wise for the U.S. to continue trying to bridge their political divides with Russia.
Russia and the US have long been competitors in the Arctic and this study has put a serious tilt on the playing field in Russia’s direction.
Gautier stressed that “Russia is already the world’s largest producer of natural gas, and so our findings suggest that the undiscovered resources are going to have the effect of more or less reinforcing that Russian strategic strength with respect to its natural resource potential.”
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