"According to the U.S. Geological Survey, the Arctic may hold about one fifth of the world's remaining oil and gas reserves. Some Russian planning takes the Arctic to be crucial to the country's economic strategy and prospects, starting as early as 2020. Already, Russia's Gazprom is involved with France's Total and Norway's Statoil in developing the Shtokman field, on Russia's northern coast.
Until recently, areas along that coast were considered barely accessible, but with the summer ice thinning radically, ships are now able to traverse the fabled Northeast Passage, linking the North Atlantic to the northern Pacific. As one recent report noted, “A Norwegian cargo ship has already traversed the Northeast Passage faster than expected and without encountering any major challenges." As the Earth continues to warm, the cost of extracting Arctic oil and gas will fall, even as the need for it mounts. No wonder we're hearing some overheated rhetoric comparing the Arctic race that's shaping up to the "scramble for Africa" and the California gold rush. There's also loose talk of developing a Kennan-style containment doctrine for the Arctic, to push Russia back and give NATO a new mission"...............READ MORE
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