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Who owns the North Pole - Pt. 34 - Greenland?

As rising temperatures expose more land for exploration, prospectors are rushing to the far north in the hope of carving out a new mineral frontier. The Arctic was largely off-limits because much of the land was considered unworkable. Global warming has changed that. More and more is becoming ice-free. Increasing amount of seaborne traffic is beginning to move on the so-called Northern Sea Route which traverses the Siberian coast. There are also hopes of opening up more of the North West Passage above Canada. New mining applications are being submitted for extraction, all the way from Canada through Greenland to Finland. The South Pole is the subject of an Antarctic treaty but there is no similar arrangement for the far north. But most states around the Arctic are not keen to have their hands tied by an international agreement of this kind.

"An active growth of oil and gas exploration in the [arctic] region may become a death sentence for its environment. The natural world of thes…

Who owns the North Pole - Part 29

Greenland is an autonomous territory belonging to Denmark. But the U.S. believes Greenland is headed for independence, presenting “a unique opportunity” for American gas and oil companies to make money.

With Arctic ice receding due to global warming, American officials have been cozying up to Greenland, where future oil and mineral deposits may become available to exploration. State Department cables released by WikiLeaks reveal that the U.S. and other industrial nations are jockeying to “carve up” Arctic resources in the coming years. The U.S. Geological Survey estimates Greenland territory may sit atop oil reserves as large as those in the North Sea. The Arctic Circle could contain 90 billion barrels of oil, about 1,700 trillion cubic feet of natural gas, and 44 billion barrels of natural gas liquids. In addition to oil and natural gas, mining companies also have their eyes on aluminum, iron ore, gold and rubies.

One diplomatic dispatch states: “Our intensified outreach to the Greenla…

Who Owns the North Pole - Part 2

Further to this earlier blog on the newly discovered economic and strategic potential of a warmer Arctic region , Russian geologists now say they have data that would support a claim to about 1.2m sq km (463,000 sq miles) of energy-rich territory in the Arctic .
The Russian team, from the Oceanology Research Institute in St Petersburg, estimates that the Lomonosov ridge area in the Arctic contains oil and gas reserves of up to 10 billion tonnes. The geologists spent 45 days studying the Lomonosov underwater ridge.

The Law of the Sea Convention allows states an economic zone of 200 nautical miles, which can sometimes be expanded. To extend the zone, a state has to prove that the structure of the continental shelf is similar to the geological structure within its territory.

Needless to say , when it comes to a scramble for the natural wealth and riches of the world there are rarely no competitors and in this case Denmark are laying their claim to sovereignty to parts of the region also . S…