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Race Heats Up over Untapped Arctic Resources

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2010-03-21

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A war of sovereignty is looming over the Arctic Continent.
The latest tension over ownership claims was sparked by Russian President Dmitry Medvedev in a speech made to his Security Council.
The president said Russia must defend its claims to mineral riches in the Arctic amid increasing competition with other countries.
He said quote "Other polar nations already have taken active steps to expand their scientific research as well as economic and even military presence in the Arctic."
Although President Medvedev didn't name a specific nation many speculate that his remarks were leveled against Canada.
While Canada stopped short of responding‚ it did release a statement saying that its sovereignty over lands‚ islands and waters of the Canadian Arctic is long-standing and well established.
Catherine Loubier‚ spokesperson for the Foreign Affairs Minister noted that Canada has committed to building a "world-class" High Arctic research station and will continue to map northern resources and waters.
The Canadian government has also announced plans for a new fleet of Arctic patrol ships‚ a deep water port and is expanding and re-equipping the Canadian Rangers.
The latest flare-up comes as Canada prepares to host talks with foreign ministers from four other Arctic coastal states Russia‚ the United States‚ Denmark and Norway scheduled for March 29 in Chelsea‚ Quebec.
All five of these countries have a presence in the region and are vying for authority over the resource-rich continent.
Experts believe the Arctic Continent holds one-quarter of the Earth's untapped oil and gas reserves.
The US Geological Survey estimates there could be up to 160 billion barrels in untapped oil reserves.
Climate change and melting glaciers are exposing new areas for exploration adding increasing tension among the nations over sovereignty claims.
Park Jong-hong Arirang News.
Reporter : julian@arirang.co.kr

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