''Lloyd’s report urges companies not to rush in to the Arctic, but instead step back and think carefully about the consequences''

From Barents Observer
By Lloyd's of London

"Estimates presented in the report reads that the Arctic is likely to attract investments of $100 billion (€76 billion) or more over the coming decade. Melting ice cap opens new shipping lanes between the Arctic and booming economies in Asia as well as making the region’s estimated large deposits of petroleum and minerals more accessible.

More accessible resources attract Big Oil and with Big Oil come increased geopolitical interests to the Arctic. The Norwegian government argues that the High North is the single most important part of Norway’s Foreign Policy. Norway is one of the five Arctic coastal states and one of eight members of the Arctic Council. Other European and Asian nations are now knocking on the door, and want observer status to the Arctic Council."

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