Climate Change Sparks Scrap for Arctic Resources

A bewildering dispute between Canada and Denmark over the ownership of Hans Island, a configuration of barren rock, could be the beginning of many struggles over territory within the Arctic Circle. Scientists warn of profound environmental changes to come with global warming - melting icecaps, rising floodwaters, species extinction and damage to traditional cultures. The massive Arctic ice sheet contains enough water to increase the world's sea level by more than seven meters - and some scientists predict that the summer Arctic could be ice-free in less than 100 years. Yet companies and governments eagerly anticipate navigating seafaring routes, once impassable because of ice, and gaining access to hidden natural resources. Eight nations - Norway, Sweden, Finland, Denmark, Iceland, Canada, Russia and the US - share the Arctic. And the countries, along with oil and gas companies have set sites on the region that could hold one quarter of the world's oil and natural gas reserves. What scientists see as climate catastrophe could become fast cash for some corporate CEOs. – YaleGlobal