Icy Arctic rising as economic, security hot spot

artic

WASHINGTON (AP) – The icy Arctic is emerging as a global economic hot spot. It’s one that is becoming a security concern for the U.S. as world powers jockey to tap its vast energy resources and stake out unclaimed territories.

President Barack Obama on Friday announced a new U.S. strategy for the Arctic, calling the region “an amazing place.” He urged allies to protect its fragile environment and keep it free of conflict.

Diplomats from eight Arctic nations will meet next week over how to protect the thawing region as its seas open to commercial shipping traffic.

U.S. officials estimate the Arctic holds 13 percent of the world’s undiscovered oil reserves, and 30 percent of undiscovered gas deposits.

That’s spurred what experts describe as a kind of gold rush scramble to the Arctic.

KSN.com provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

blog comments powered by Disqus