Arctic Region Research Paper

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IMPORTANCE OF THE ISSUE

The Arctic region is considered to be geographically significant due to several reasons. The primary reason is that the High North contains an unthinkable large quantity of natural resources. Studies have concluded that the Arctic may be capable of containing an approximate of one fifth (1/5th) of the world’s undiscovered oil reserves and natural gas resources; as a matter of fact, there is evidence that suggests the possibility that 90 billion barrels of oil reserves and 47 cubic meters of natural gas lie under the region, which amounts to around 13% of the world’s approximate reserves. In addition to oil and natural gas, it is also believed that the Arctic is rich in other resources, including precious stones such as platinum, gold, silver, iron, zinc, copper, as well as significant deposits of methane hydrates, the potential future energy source, deep under the region’s ocean. In a situation where the world’s natural resources are being depleted at an extremely fast rate, it is desirable for any …show more content…
In a situation where the world’s natural resources are being depleted at an extremely fast rate, it is desirable for any nation to claim Arctic as its own land, which presents a profusion of natural resources along with a vast area of developable land.
The main Arctic states that were first entangled in this contentious issue are Russia, Canada,
Denmark, The United States of America, Sweden, Finland, Iceland and Norway. It can be said that the rest of world’s nations were used to the fact that major concerns were submitted

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