causes of poverty
2847975170497500The stage has been quietly set for a serious confrontation in the non-too-distant future between Russia and the United States – along with Canada, Norway and Denmark. Russia has recently laid claim to a vast 1,191,000 sq km (460,800 sq miles) chunk of the ice-covered Arctic seabed. The claim is not really about territory, but rather about the huge hydrocarbon reserves that are hidden on the seabed under the Arctic ice cap. These newly discovered energy reserves will play a crucial role in the global energy balance as the existing reserves of oil and gas are depleted over the next 20 years.
-1905004762500Russia has the world’s largest gas reserves and is an exporter of oil, but its oil and gas production is strarting to decline as reserves dwindle. Russia’s Natural Resources Ministry estimates that the country’s existing oil reserves will be depleted by 2030. The 2005 BP World Energy Survey projects that U.S. oil reserves will last another 10 years if the Arctic National Wildlife Refuge is not opened for oil exploration, Norway’s reserves are good for about seven years and British North Sea reserves will last no more than five years – which is why the Arctic reserves, which are still largely unexplored, will be of such crucial importance to the world’s energy future.
Scientists estimate that the territory contains more than 10 billion tons of gas and oil deposits. The shelf is about 200 meters (650 feet) deep and the challenges of extracting oil and gas there appear to be surmountable, particularly if the oil prices stay where they are now – over $70 a barrel.The Russian Government wants to secure Russia’s long-term dominance over global energy markets. To ensure this, Russia needs to find new sources of fuel and the Arctic seems like the only place left to go. But there is a problem: International law does not recognize Russia’s right to the entire Arctic seabed north of the Russian coastline. The 1982 International Convention on the Law of the
-1905004762500Russia has the world’s largest gas reserves and is an exporter of oil, but its oil and gas production is strarting to decline as reserves dwindle. Russia’s Natural Resources Ministry estimates that the country’s existing oil reserves will be depleted by 2030. The 2005 BP World Energy Survey projects that U.S. oil reserves will last another 10 years if the Arctic National Wildlife Refuge is not opened for oil exploration, Norway’s reserves are good for about seven years and British North Sea reserves will last no more than five years – which is why the Arctic reserves, which are still largely unexplored, will be of such crucial importance to the world’s energy future.
Scientists estimate that the territory contains more than 10 billion tons of gas and oil deposits. The shelf is about 200 meters (650 feet) deep and the challenges of extracting oil and gas there appear to be surmountable, particularly if the oil prices stay where they are now – over $70 a barrel.The Russian Government wants to secure Russia’s long-term dominance over global energy markets. To ensure this, Russia needs to find new sources of fuel and the Arctic seems like the only place left to go. But there is a problem: International law does not recognize Russia’s right to the entire Arctic seabed north of the Russian coastline. The 1982 International Convention on the Law of the