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[Adventurer]

Riches await as Earth's icy north melts By DOUG MELLGREN, Associated Press Writer
Sat Mar 24, 6:34 PM ET



HAMMERFEST, Norway - Barren and uninhabited, Hans Island is very hard to find on a map. Yet these days the Frisbee-shaped rock in the Arctic is much in demand � so much so that Canada and Denmark have both staked their claim to it with flags and warships.

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The reason: an international race for oil, fish, diamonds and shipping routes, accelerated by the impact of global warming on Earth's frozen north.

The latest report by the U.N. Intergovernmental Panel on Climate Change says the ice cap is warming faster than the rest of the planet and ice is receding, partly due to greenhouse gases. It's a catastrophic scenario for the Arctic ecosystem, for polar bears and other wildlife, and for Inuit populations whose ancient cultures depend on frozen waters.

But some see a lucrative silver lining of riches waiting to be snatched from the deep, and the prospect of timesaving sea lanes that could transform the shipping industry the way the Suez Canal did in the 19th century.

The U.S. Geological Survey estimates the Arctic has as much as 25 percent of the world's undiscovered oil and gas. Russia reportedly sees the potential of minerals in its slice of the Arctic sector approaching $2 trillion.

http://news.yahoo.com/s/ap/20070324/ap_on_sc/arctic_bonanza

[bixlerscott]

That is very facinating as can be. Good one. This is getting to be an age of fierce competition for acquiring natural resources and physical space itself such as land.

[mindmetoo]

What fascinates me, is what is to be discovered under the ice of antarctic? A huge continent locked up in ice. Resources, fossils of animals never seen before. Ain't gonna melt down in our life time, for sure, and if it did, we might not be around in large numbers to explore it. But still.

Yeah Canada's north is in good position. Some guy, long time ago, bought a port up in Northern Manitoba on the NW Passage for chump change. The thing is frozen 90% of the year. But that isn't the case anymore. When he passes it down to his children, the place will probably be a major stop on a new trade route.

[gang ah jee]

[Adventurer]

I've been talking about this for years that global warming will have many positives for Canadians. Canadians will have more access to natural resources and so will the Scandinavians. However, there may be a problem between the Danish and Canadians regarding this matter. Depending on what's under the arctic, Canada could replace Saudi Arabia as the major exporter of oil. We may still be using oil at that time. Who knows?

[Hollywoodaction]

I don't much see cause to rejoice. Won't most of that land be flooded once the ice caps melt?

[nautilus]

[mindmetoo]

[Yo!Chingo]

All coastal communities are doomed... face it. I refuse to buy coastal because I know that soon it will be under water. The best bet is to buy mid west, at least in the USA, and hope for 3rd pedestal from the beach. My parents own ocean front and I keep trying to get them to sell. I say, " It'll be underwater in 50 years." "NO!!!," they say. That's a lot of money under water!!!

[nautilus]

[EFLtrainer]

[mindmetoo]

[jinju]