Haynes and Boone's Newsroom
Staking Claim On The Last Energy Frontier
Christopher S. Kulander
Law360, New York (April 23, 2009) -- The Arctic is warming up in more ways than one. Roused by oil and gas exploration and cross-polar shipping, the nations bordering the Arctic are jostling for position.
With some estimates placing 25 percent of the world’s undiscovered reserves under the Arctic Ocean, countries with polar access are expanding icebreaker fleets, leasing for mineral exploration and making new sovereign claims.
No country has a recognized claim to the North Pole region as it is located in the Arctic Ocean. Islands, channels and undersea ridges deep into the Arctic, however, are a source of conflicting claims by Russia, Norway, Canada and Denmark far into the Arctic Ocean.
America needs to step up its Arctic presence and make sure its voice is heard in the settlement of these Arctic territorial and economic disputes.
Reprinted with permission from Law360, www.law360.com
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