25 Aug '12, 2pm

#peakoil The race for Arctic oil riches: Danes press ahead with claim on ocean tract

#peakoil The race for Arctic oil riches: Danes press ahead with claim on ocean tract

Danes press ahead with claim on ocean tract as Canada tries to shed light on sea vessels that disappeared in the fabled Northwest Passage Scientists gathering data to underpin a claim by Denmark to a vast Arctic Ocean tract including the North Pole have harvested crucial new information about the seabed. The country is pressing ahead with its claim to the area – which is thought to hold untapped oil and gas and is likely to offer new shipping lanes as ice recedes. But there are also rival claims from Russia and Canada. Denmark and its semi-autonomous dependency Greenland are preparing to file a claim to an area extending north of Greenland and encompassing the pole under the United Nations Convention on the Law of the Sea by November 2014. Much depends on whether Copenhagen can obtain data showing that the Lomonosov Ridge, an underwater formation stretching 1,800 kilometre...

Full article: http://peakoil.com/geology/the-race-for-arctic-oil-riches/

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