The most significant geophysical event on our planet since the end of the ice age is taking place today—the opening of the Arctic. As the High North maritime environment warms, the Arctic Ocean’s abundant energy, minerals, fish stocks, and other natural resources are becoming increasingly accessible, while new potential maritime routes promise to reduce shipping times and costs and accelerate ties between major commercial centers. These new opportunities for energy development, natural resources extraction, and shipping suggest that the region risks becoming an arena of intense competition, tension, and potentially even confrontation, not only between the United States and its two near-peer strategic competitors—China and Russia—but also among other Asia-Pacific states with observer status in the Arctic Council. Continue reading
What the Russians see is skyrocketing oil prices that aren’t too far away around the corner. They know that this ‘high’ won’t last too long. It also helps them lay claim to the Arctic region and enables them to send the Russian military out to enforce their wish in grabbing hold of the Arctic.
Despite falling prices for raw materials, companies should maintain their investment plans not to lose what is done, Russian Energy Minister said in an interview to the Rossiiskaya Gazeta
MOSCOW, January 22. /TASS/. Russia to continue implementing Arctic oil and gas projects despite Western sanctions and low oil prices, Russian Energy Minister Alexander Novak said in an interview to the Rossiiskaya Gazeta that will be published on Friday, January 23. Continue reading