AN EXCERPT: US Secretary of State Hillary Clinton took a first-hand look Saturday at the way a warming climate is changing the Arctic, opening the region to competition for vast oil reserves.
Experts here estimate the value of the Arctic’s untapped oil alone — not including natural gas and minerals — at $900 trillion, making it a huge prize for the five countries that surround the Arctic if they can reach it.
And with climate warming opening up some 46,000 square kilometres (18,000 square miles) a year that had once been bound in ice, the region is expected to burst open, not just with oil exploration but with East-West trade along a more accessible northern route.
ZEPHYR COMMENT: So…Climate change is opening previously inaccessible fossil-fuel resources, but being able to reach those resources will make us more dependent on fossil fuels which will accelerate the threat and inevitability of climate change…?????
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