- Undiscovered oil land the Russian arctic is all set to be discovered in spite of the climate conditions and major obstacles
- Russian Arctic the world larges undiscovered region, it is one of the few remaining areas with potential to make huge discoveries- World Petroleum Congress
- U.S. Geological Survey (USGS) in 2008 points out around 20% of world’s hydrocarbon reserves yet to be discovered
- The challenges faced in these regions are Ice, snow, cold and darkness which all contribute to major hurdles to make
- To unlock the full potential of the Arctic we need new technology and innovative business models to drive the Arctic projects
- Oil gas production groups opine that to explore the Arctic region the support from Russian government in addition to investments by private corporations is very important
- In a major industry conference in Moscow expansion of railroad infrastructure and the building of a network of ports, in addition to other major constructions is needed for a full scale development
- Non-governmental organisations such as Greenpeace say that the Arctic oil and gas exploration not only harms a fragile ecosystem but will harm the endangered species
- Read at: http://www.thehindu.com/todays-paper/tp-opinion/russian-arctic-a-new-promised-land-for-oil-giants/article6139953.ece
Exams Perspective:
- NGO
- Arctic Region
- Climate Change