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Page added on November 30, 2005

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The Artic: Big Oil’s Final Frontier

As global warming melts the Arctic pack ice, one of the world’s most remote and potentially energy-rich regions is becoming more accessible. And the race to stake a claim to the icy wastes is picking up speed.

Dec. 5, 2005 issue – Who would want Hans Island? It’s a barren, windblown chunk of uninhabited rock measuring less than 1.5 square kilometers. And with the North Pole just a few hundred kilometers away, conditions
Why so much interest? As global warming sets in, the polar ice cap is receding fast. Scientists reckon that by the end of the century the entire Arctic Ocean could be open water for the first time since prehistory, uncovering potentially vast reservoirs of oil and natural gas



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