The U.S. Geological Survey estimates that 30 percent of the world's undiscovered natural gas and 15 percent of oil is in the Arctic. Several companies, including Russia's Rosneft, Norway's Statoil and U.S.-based Exxon Mobil are getting ready to drill in areas of melting sea ice, despite the risks, technological difficulties and costs. Some countries have estimated that the Northern Sea Route would be turned into a shipping highway, with a 40-fold increase in shipping by 2020. There is also likely to be a boom in fisheries. A widely predicted northward shift in sub-arctic fish species, including Atlantic and Pacific cod, is now being detected. It is estimated that fish catches in the high latitudes, including the Arctic, could increase by 30 to 70 percent by 2055.
Last September, Arctic sea ice reached its lowest level in the satellite record, which dates back to 1979, and scientists say there could be an ice-free summer by 2030-2040. The Greenland ice cap has also been melting, permafrost on the tundra has thawed and there is less snow on land and on glaciers. As ice and snow retreats, more shipping routes are opened and access is easier for oil and gas exploration and mining companies.
"What we are seeing is that the melting of ice is prompting a rush for exactly the fossil fuel resources that fuelled the melt in the first place," said Achim Steiner, U.N. Under-Secretary-General and United Nations' Environment Programme (UNEP) Executive Director.
The U.N. body advises that no steps to exploit the Arctic environment are taken without first assessing how activities would affect ecosystems and populations.
Last September, Arctic sea ice reached its lowest level in the satellite record, which dates back to 1979, and scientists say there could be an ice-free summer by 2030-2040. The Greenland ice cap has also been melting, permafrost on the tundra has thawed and there is less snow on land and on glaciers. As ice and snow retreats, more shipping routes are opened and access is easier for oil and gas exploration and mining companies.
"What we are seeing is that the melting of ice is prompting a rush for exactly the fossil fuel resources that fuelled the melt in the first place," said Achim Steiner, U.N. Under-Secretary-General and United Nations' Environment Programme (UNEP) Executive Director.
The U.N. body advises that no steps to exploit the Arctic environment are taken without first assessing how activities would affect ecosystems and populations.
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