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Indeed, some people think it holds nearly a quarter of the world's undiscovered reserves.
The Arctic is stocked with minerals that were hitherto largely inaccessible, including an estimated 30% of undiscovered reserves of natural gas and 13% of undiscovered oil reserves.
Some experts think that around a fifth of Norway's undiscovered reserves lie in the idyllic Lofoten islands, a favorite destination for fisherman and well as tourists.
The Arctic is stocked with minerals that were hitherto largely inaccessible, including an estimated 30% of undiscovered reserves of natural gas and 13% of undiscovered oil reserves (see map below).
According to a 2008 study by the US Geological Survey, the Arctic may hold 90 billion barrels of oil and 1,669 trillion cubic feet of natural gas, respectively 13% and 30% of the world's estimated undiscovered reserves.
After reminding me that Iraq possesses the second-largest proven reserves in the world, he pointed out that it could well be No. 1 in probable undiscovered reserves, an amount he put at two hundred and fifteen billion barrels.
Similar(50)
The region also has abundant resources, including fisheries, minerals, more than 10% of the world's undiscovered oil reserves and 30% of its undiscovered gas reserves.
The Interior Department estimates that undiscovered oil reserves total 86 billion barrels, four times the nation's official proven reserves.
According to estimates the region holds 13 percent of the world's undiscovered oil reserves and 30 percent of the world's undiscovered gas.
Currently uninhabitable areas will become more hospitable; currently inaccessible energy resources will become more exploitable.According to the United States Geological Service, about one-quarter of the world's undiscovered energy reserves may be in the Arctic.
The assessment, which took four years, found that the Arctic may hold as much as 90 billion barrels of undiscovered oil reserves, and 1,670 trillion cubic feet of natural gas.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com