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Page added on October 30, 2007

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Global warming opens Arctic seabed to the search for oil and gas

As the ice retreats, nations try to advance their undersea borders and resource claims

The Arctic is rich in natural resources, including hydrocarbons, and rapid thawing due to global warming could make exploiting those mineral resources feasible relatively soon.

Large, discovered oil and natural gas reserves totaling 233 billion barrels of oil or its equivalent can be found in the Arctic Basin, according to a recent study by two British consulting firms, Wood McKenzie and Fugro Robertson, “with potential additional resources estimated at 166 billion barrels of oil equivalent.”

IHT



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