Canada flexes its muscles in scramble for the Arctic

energybulletin.net -> environment.guardian.co.uk :

* Eight countries lay claim to oil-rich, unspoilt region
* Global warming opens up fabled North-west Passage

It is not the kind of militaristic statement expected of the peace-loving Canadians. In front of a choreographed line-up of 120 sailors in their summer whites at a naval base outside Victoria in British Columbia, the prime minister, Stephen Harper, gave a warning to other nations with their eye on the potentially oil-rich Arctic. "Canada has a choice when it comes to defending our sovereignty over the Arctic," he said. "We either use it or lose it. And make no mistake, this government intends to use it." Mr Harper's message, and the belligerent style in which it was delivered, are a sign that the Arctic, the vast ice-covered ocean around the North Pole, is hotting up - both literally, through global warming, and metaphorically as a political issue. With Canada, Denmark, Russia and the United States all having claims on the region, together with those of Iceland, Norway, Sweden and Finland, international tension in the region is mounting.

There was no dissembling in Mr Harper's speech. "The ongoing discovery of the north's resource riches, coupled with the potential impact of climate change, has made the region a growing area of interest and concern," he said. As the statement implies, two areas of international competition lie behind the Canadian prime minister's actions. The first is that the Arctic region is rich in natural resources. It is thought to hold up to a quarter of the world's undiscovered reserves of oil and gas, which as the established fields in the Middle East and elsewhere run dry will become increasingly valuable and sought after. There are also known to be major deposits of diamonds, silver, copper, zinc and, potentially, uranium. It also has rich fish stocks.

The second area of dispute concerns the holy grail of commercial shipping: the North-west Passage. Once opened, it would shorten the maritime trade route from Europe to Asia by some 2,150 nautical miles from the current navigation through the Panama canal.

Post a Comment:

Comments are closed for this entry.

« Singapore STI versus... | Main | Russia mulls potenti... »

Most popular blog postings on lowem.log :

1. Singapore SIBOR interest rates fall to 1.5%, lowest since Dec 2004
2. Singapore SIBOR rate falls to 1.31%, lowest since Nov 2004
3. Live spot gold price quotes chart on COMEX
4. Fuel prices seen stoking Malaysia inflation in 2008
5. 2010 Honda Civic Hybrid preliminary specifications released
6. Singapore SIBOR rate fell to 1.25% in Apr 2008, lowest since Aug 2004
7. Malaysia inflation rate jumps to 7.7% in Jun 2008, a 26-year record high
8. Singapore : electricity tariffs to increase April 2008 on rising oil prices

Featured articles on lowem.log :

1. ABC Guide to Beating Inflation in Singapore and Elsewhere
2. Singapore inflation rate hits new 26-year high of 7.5% in Apr 2008
3. Singapore : Bread price inflation continues
4. 2010 Honda Civic Hybrid preliminary specifications released
5. Peakoiler buys 2008 Honda Civic Hybrid FD3
6. How to insert currency exchange rates into Google Spreadsheets
7. Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004
8. Singapore : Inflation erodes away bank savings