Sunday, May 12, 2013

Arctic rising as economic, security hot spot

U.S. officials estimate the Arctic holds 13 percent of the world's undiscovered oil reserves and 30 percent of undiscovered gas deposits.


Russia is planning to train and equip a brigade of military troops specifically for Arctic warfare, and Canada is revitalizing its Arctic fleet with $33 billion to build 28 ships over the next 30 years.

Norway, Denmark and the U.S. are all expanding military command centers and operations within the Arctic.


Fourteen governments —including China, India, Japan, Singapore, South Korea and the European Union —now are seeking rights to attend meetings of the eight-nation Arctic Council as observers.