Countries Eye the North Pole for it's Potential as a New Source of Oil and Gas
Published on Nov 19, 2015
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Countries Eye the North Pole for it's Potential as a New Source of Oil and Gas
Photo by ecstaticist
-Denmark is looking at the long-term economic potential of the North Pole
-The country made its scientific case to the United Nations and makes efforts to claim its rights to the resources that may lie beneath the ice
-Russia plans to renew its claim to a huge swath of the area as a way to secure the rights to billions of tons of oil and natural gas
-"The oil industry is looking at this as long, long-term investments that won't likely kick in until the late 2020s"
Photo by potomo
The Arctic
-There are about 90 billion barrels of oil and 1,669 trillion cubic feet of natural gas in the Arctic.
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It is a tundra bordered by Canada, Denmark, Norway, Russia and the United States
-The area most sought after is an undersea region called the Lomonosov Ridge, which spans 1,800 miles and divides the Amerasian and Eurasian basins
World's Supply of Untapped Oil
World's Supply of Undiscovered Natural Gas
threats to the environment
- Spill cleanup is impossible
- We can't respond quickly to a spill
- Spill recovery is slow
- Economically and culturally important species are at risk
- Ocean noise can injure marine mammals
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Solutions
- Make oil and gas projects safer
- Move to renewable energy
- Protect valuable places
- We need to spill some oil (on purpose)
- We need a plan for wildlife
