Reply #48: As Arctic Ice Melts, U.S. Competes for Oil, Gold and other Resources

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http://www.allgov.com/Top_Stories/ViewNews/As_Arctic_Ice_Melts_US_Competes_for_Oil_Gold_and_other_Resources_110513

With Arctic ice receding due to global warming, American officials have been cozying up to Greenland, where future oil and mineral deposits may become available to exploration.

State Department cables released by WikiLeaks reveal that the U.S. and other industrial nations are jockeying to “carve up” Arctic resources in the coming years.

The U.S. Geological Survey estimates Greenland territory may sit atop oil reserves as large as those in the North Sea. The Arctic Circle could contain 90 billion barrels of oil, about 1,700 trillion cubic feet of natural gas, and 44 billion barrels of natural gas liquids.

Greenland is an autonomous territory belonging to Denmark. But the U.S. believes Greenland is headed for independence, presenting “a unique opportunity” for American gas and oil companies to make money.