Arctic Real Estate

Tonight I read an article about the land disputes in the Arctic Circle. According to the article, the Arctic Circle sits atop 90 billion barrels of oil and 44 billion barrels of natural gas. So who owns this land, and what are they going to do with it? The article states that Russia, Canada, the United States, Denmark, Norway, Sweden, Iceland, and Finland all claim to own a piece of this land making it the most significant territorial dispute of the century. However, scientists are even more worried about what the countries plan on doing with the land. Due to Global Warming, the wildlife in the Arctic Circle is already suffering and drilling would just make matters worse.  Drilling would have major effects on the landscape as well. Ultimately, whoever drills in the Arctic will depend on the global economy.

The entire article can be read here.

This article was written by Marsha Walton, and was posted on cnn.com.