Arctic Oil
- Created by: Amy Brown
- Created on: 04-06-14 11:38
View mindmap
- Arctic Oil
- Background
- Estimated to contain up to 25% of the world's undiscovered oil and natural gas.
- Issues regarding who can lay to claim to which parts of the ocean - Russia has claimed nearly half of the Arctic but other interested parties e.g. USA failed to uphold their claim
- Problems
- Oil companies have already destroyed large parts of Alaska and Siberia and so should be kept out of the Arctic
- New oil rush in the Arctic is only possible because of the increased shrinking of the polar ice cap due to global warming
- The arctic is a pristine environment containing over 45 species of land and marine animals
- Issues over who has the right to claim ownership of the natural resources
- Countries who have been conflicting over this have now agreed to sign the UN Law of the Sea Convection stating the 8 Arctic States are allowing to exploit offshore resources within 200 nautical miles of their teritory
- Benefits
- At around $70 per barrel it makes drilling in the Arctic viable (2007 prices reached $100)
- Contains up to 25% of the world's undiscovered oil and natural gas
- Players involved
- Arctic states - USA, Russia, Canada, Norway, Denmark, Finland, Sweden and Iceland
- UN -will decide the control of the Arctic by 2020
- Local people
- Envionmental Pressure Groups
- Background
Comments
No comments have yet been made