Report  |  Scramble for the Arctic  |  22 January 2010

No scramble for the Arctic - yet

by Reiner Gatermann

If the ice in the Arctic melts, a new ocean five times the size of the Mediterranean will be formed, potentially providing access to huge fossil fuel resources. But oil companies are not rushing to the North Pole yet. It will be decades before there can be any question of tapping the region’s oil and gas – if it happens at all.

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