Big Questions

40 Items, Page 4 of 8

Russia's Arctic Dreams

Russia’s Arctic Dreams

The Arctic has a particular appeal for Russian national consciousness – and is duly prioritized by Russia’s ambitious and unambiguously authoritarian leadership. President Vladimir Putin is personally committed to advancing Russia’s interests in the High North and has recently confirmed his unwavering engagement at the “Arctic – Territory of Dialogue” conference in Arkhangelsk. Richness in natural resources, particularly natural gas and oil, is a key part of this appeal and a major focus of this priority. But Russia’s Arctic dreams will eventually collide with a harsh reality: Arctic reserve estimates and the assessments of their accessibility are seriously exaggerated.

Arctic energy

China’s Exaggerated Arctic Interests

The world’s awareness of petroleum resources in the Arctic soared in 2008 after an assessment from the United States Geological Survey indicated that 12.3 percent of global undiscovered oil resources and 32 percent of gas resources could be found there. The analysis was widely misinterpreted to reflect offshore reserves and created the perception of a huge untapped potential that was becoming more accessible because of the ice melt. It resonated strongly in China, which worried about soaring energy needs and over-dependence on the Middle East.

Arctic fishing

Navigating Tomorrow’s Arctic

No region on the planet is experiencing more dramatic climate change than the Arctic. In recent years, this has resulted in melting glaciers, rapid ecosystem changes, diminishing sea ice, and changes in the atmospheric circulation and ocean properties. Ocean temperatures are increasing due to global warming. In a business-as-usual scenario for greenhouse gas emissions, temperatures may increase by 8-10 degrees Celsius. Even in the most optimistic scenario for cutting greenhouse gas emissions, the Arctic will warm several degrees and fundamentally change as we know it today.

china arctic opportunities

Arctic Opportunities

Last month, Arctic sea ice extent reached a maximum of 5.57 million square miles – a record low. As the Arctic region rapidly transforms due to dramatic climate impacts, new economic opportunities and environmental challenges present themselves across the region. How realistic are these economic opportunities, and what factors will drive or delay future economic development?