Before commenting, some terms:
Proven oil reserves
Unporoven oil reserves
Proven natural gas deposite
Unproven natural gas deposits
Apparently, one of the largest oil reserves is in the Arctic Ocean - 90 billion barrels. Large, you think.
It is also estimated that about 30% of the unproven natural gas deposits of the world could also lie beneath the ice.
The race : Russia is planning nuclear ice breakers. Are the other countries near enough to this technology? It is vital for success in the Arctic region.
The dispute in this region could increase not just because of the oil reserves but also because of the new shipping lanes that are likely to develop if the arctic ice melts.
Who owns it all or part : The countries around the Arctic region are actively looking at the United Nations Convention of the Law of the Sea (1982).
Similar disputes will be also seen in other parts of the world as there are large proven and unpoven oil deposits in quite a few parts of the world.
Proven oil reserves
Unporoven oil reserves
Proven natural gas deposite
Unproven natural gas deposits
Apparently, one of the largest oil reserves is in the Arctic Ocean - 90 billion barrels. Large, you think.
It is also estimated that about 30% of the unproven natural gas deposits of the world could also lie beneath the ice.
The race : Russia is planning nuclear ice breakers. Are the other countries near enough to this technology? It is vital for success in the Arctic region.
The dispute in this region could increase not just because of the oil reserves but also because of the new shipping lanes that are likely to develop if the arctic ice melts.
Who owns it all or part : The countries around the Arctic region are actively looking at the United Nations Convention of the Law of the Sea (1982).
Similar disputes will be also seen in other parts of the world as there are large proven and unpoven oil deposits in quite a few parts of the world.