Scramble for the Arctic’s resources ?
With Arctic ice melting at record pace, the world’s superpowers are increasingly jockeying for political influence and economic position in the Arctic, previously regarded as barren wastelands. At stake are the Arctic’s abundant supplies of oil, gas and minerals that are, thanks to climate change, becoming newly accessible along with increasingly navigable polar shipping shortcuts.
While the United States, Russia and several nations of the European Union have Arctic territory, China has none, and as a result, has been deploying its wealth and diplomatic clout to secure toeholds in the region.
To promote the council bid and improve relations with Arctic nations, its ministers visited Denmark, Sweden and Iceland this summer (August 2012), offering lucrative trade deals. High-level diplomats have also visited Greenland, where Chinese companies are investing in a developing mining industry in mainly rare earth metals, with proposals to import Chinese work crews for construction.
Disputes
* Russia and Norway – have signed a deal over who owns what in the Barents Sea. But there are plenty of other territorial tussles going on – some between good friends.
* The United States and Canada still disagree on the setting of the boundaries in the Beaufort Sea – an area of intense interest to oil drillers.
* Canada has yet to resolve a dispute with Denmark over the ownership of Hans Island and where the control line should be drawn in the strait between Greenland (whose sovereignty remains with Denmark) and Ellesmere Island. * But of even greater significance in a world of melting ice floes is control of the North West Passage. Canada insists that it has sovereignty over the sea route and therefore must be asked about usage. The US sees it as a potential
