Arctic Gold Rush

An exploration of the political significance of the Arctic''s vast untapped wealth of natural resources and a gripping account of the race to exploit them On August 2 2007 a Russian submarine captured world headlines by making a dangerous journey to the bottom of the Arctic seabed and planting a metal rustfree national flag more than 14000 feet beneath the North Pole. The aim was to assert Russia''s legal sovereignty over a region whose importance had only recently started to become apparent as its melting ice had made or was expected to make vast natural resources open to exploitation.The latest estimates are that the region holds around 13% of the world''s undiscovered oil and as much as 30% of undiscovered natural gas reserves that would be hugely profitable for any country that managed to secure control over them. Gold platinum copper and other precious metals have also been found along the coast. Neighboring countries - Russia the United States Canada Denmark and Norway - are already doingeverything they can to mark out new borders. The ensuing political disagreements over the issue are already rife. In particular games of political intrigue between Moscow and Washington are being played out in the region. But as the world''s resources become increasingly scarce and valuable could the scramble for Arctic resources become violent? Could a War for the Arctic be fought?Praise for The Oil Hunters:The Dramatic Days of oil exploration in the first half of the 20th century are narrated in gripping fashion by Roger Howard. -The SpectatorA fascinating story for anyone interested in one of today''s main economic problems: How to reduce the hundreds of billions that Americans spend every year to import oil...the book is packed with intrepid geologists risk-averse business people hardup Mideast rulers and ingenious promoters- all concerned with driving up profits.-The Associated Press