Friday, October 5, 2012

US Far Behind in Race for Arctic Assets

The United States is not look at the Arctic as an investment
BARROW, ALASKA (GLOBALPOST) - The melting of the Arctic has opened up the potential to access oil and minerals beneath the floor of the Arctic Ocean.  Economists are predicting that there could be trillions of dollars in profit in the coming decades.  Alaska Lt. Governor Mead Treadwill believes the United States in not even in competition for the race for oil and minerals in the Arctic.   Despite the profits and opportunities in the Arctic, American administrators are not utilizing the Arctic's potential.  Many international observes believe the US is failing to understand the need and importance to establish itself as a leader in the Arctic.  It will take a long time for the United States to become as active as China and Russia in the Arctic.  The US Coast Guard does not have the resources for the shipping surge or oil exploration, including ice cutters.    Source: US Far Behind in Race for Arctic Assets (Reliability: Medium)

Comments:  The ice in the Arctic Ocean has shrank to an all-time low this year due to man-made global warming.  

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