As you may remember, at the end of June, I wrote piece about how Russia wanted to lay claim to a large section of the Arctic Circle. Well, yesterday the country definitely left no question as to its intention when it actually sent a submarine 4,200 meters below the surface at the site of the North Pole and physically planted a Russian flag to stake its claim. The area under the North Pole has HUGE economic potential as it is loaded with precious natural resources, not the least of which is a large reserve of oil. Seeing the submarine plant the titanium Russian flag under the North Pole on the news last night brought to my mind images of America planting its flag on the moon. Does that really mean though that America has the unquestionable right to any resources that the moon could one day turn out to posses? Not in my book. Russian officials, however, seem to think that planting the Russian flag equals ownership.
So what exactly is at stake here? In simple terms ... A LOT! Gold, oil, aluminum, platinum just to name a few of the natural resources that the area has in abundance as well as shipping routes.
But even now that Russia has "claimed" this area, don't expect the rest of the Arctic Circle countries to just lay down and let Russia walk away with the riches. These other countries include Canada, America, Denmark and Norway (International law says that a country can claim exclusive economic rights within 200 miles, or 320 kilometers, of its shores). Canada and America have already been working on ways to tap into the area's oil deposits, and we know how much America likes its oil!
Up until recently, this portion of the world was virtually off limits to development. Not because of any sort of political deals, but due to the climate. The area is, to say the least, unfriendly, but recent global climate shifts have made things more accessible and led to this current "gold rush" in the area.
In the end, it will come down to the United Nations to try to figure out who will get what in the area. Russia is already working on that as well. It is currently collecting rock samples from the underwater treasure chest that in hopes they will prove that the area is a natural extension of Russian landmass.
One thing is for sure, this is definitely a touchy subject between Russia and America, and with the current strain that is developing (and increasing) between the two countries, things could get ugly fast. I discussed a few other areas of tension that were blossoming between the two former cold war adversaries here: Oil closes above $70 on gasoline concerns and global tensions.
It is definitely an interesting story in the making, and one that could reshape the world as we know it!
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Reader Comments (Page 1 of 1)
8-03-2007 @ 1:47PM
Samuel Gutierrez Carranza said...
Very good article although I have to say that AMERICA is a continent and not a country.