Canada and Russia to spar over arctic oil
Polar Race
Monday 28 July 2008
by: Guy Taillefer, Le Devoir
Four hundred and twelve billion barrels of oil. A third of the planet's proven reserves. That's what the depths of the Arctic contain, according to the US Geological Survey's most recent evaluation. One may count on Prime Minister Stephen Harper to take advantage of the opportunity to reassert Canada's "unquestionable" sovereignty over the North - and to reduce the debate over the development of the circumpolar world to a war of flags and icebreakers.
Last Wednesday, after four years of research, the US Geological Survey, the American scientific agency specialized in hydrocarbons, delivered the first exhaustive estimate of potential oil and gas situated north of the polar circle: 90 billion barrels of crude, three times as much natural gas, 20 percent of the probable global reserves of liquefied natural gas.... The news is guaranteed to have a strong impact, given the present context of tightening energy supplies, surging prices at the pump, and the extraordinary growth of demand in developing countries. Northern governments and oil companies have never salivated to quite the same extent over the Arctic, which becomes all the more hospitable to them as the ice melts.... If one were a cynic, one would say that in this instance it is altogether to Ottawa's advantage to drag its feet in the fight against greenhouse gases.
Moreover, quite by chance, the US Geological Survey estimates were made public one year, almost to the day, after two little Russian sailors dove to a depth of 4,000 meters in the beginning of August 2007 to plant a flag on the North Pole. This striking gesture - without any legal effect, however - relaunched the debate on the subject of sovereignty over the Arctic in great style. Cut to the quick, then-Foreign Affairs Minister Peter MacKay decreed that the region Russia coveted was "unquestionably" Canadian.
(More here.)
Monday 28 July 2008
by: Guy Taillefer, Le Devoir
Four hundred and twelve billion barrels of oil. A third of the planet's proven reserves. That's what the depths of the Arctic contain, according to the US Geological Survey's most recent evaluation. One may count on Prime Minister Stephen Harper to take advantage of the opportunity to reassert Canada's "unquestionable" sovereignty over the North - and to reduce the debate over the development of the circumpolar world to a war of flags and icebreakers.
Last Wednesday, after four years of research, the US Geological Survey, the American scientific agency specialized in hydrocarbons, delivered the first exhaustive estimate of potential oil and gas situated north of the polar circle: 90 billion barrels of crude, three times as much natural gas, 20 percent of the probable global reserves of liquefied natural gas.... The news is guaranteed to have a strong impact, given the present context of tightening energy supplies, surging prices at the pump, and the extraordinary growth of demand in developing countries. Northern governments and oil companies have never salivated to quite the same extent over the Arctic, which becomes all the more hospitable to them as the ice melts.... If one were a cynic, one would say that in this instance it is altogether to Ottawa's advantage to drag its feet in the fight against greenhouse gases.
Moreover, quite by chance, the US Geological Survey estimates were made public one year, almost to the day, after two little Russian sailors dove to a depth of 4,000 meters in the beginning of August 2007 to plant a flag on the North Pole. This striking gesture - without any legal effect, however - relaunched the debate on the subject of sovereignty over the Arctic in great style. Cut to the quick, then-Foreign Affairs Minister Peter MacKay decreed that the region Russia coveted was "unquestionably" Canadian.
(More here.)
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