Saturday, June 07, 2008
Cold rush - the future of Arctic energy When a mini-submarine attached to a Russian geological expedition placed a Russian flag on the Arctic sea bed in July 2007, it appeared a new 'gold rush' was developing among the Arctic littoral states. The 'gold' in question is the vast quantity of oil and gas believed to be hidden beneath the Arctic ice cap, which the United States Geographical Survey estimates could equal 25 per cent of the world's undiscovered hydrocarbon reserves
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