Make no mistake: Canada, Denmark, Norway, Russia and the United States aren't just fighting over table scraps when it comes to Arctic petroleum reserves. The U.S. Geological Survey estimates that 13 percent of the world's undiscovered oil and 30 percent of its undiscovered natural gas rest beneath the Arctic's ocean floor [source: Morello]. That means 90 billion barrels of oil and 1,670 trillion cubic feet (47 trillion cubic meters) of natural gas may be at stake [source: USGS].
The United Nations' Law of the Sea (UNCLOS) treaty allowed for coastal countries to lay claim to waters extending up to 200 nautical miles off their shorelines. Under the treaty, countries had until May 19, 2009 to request up to 350 nautical miles. All they had to do was prove that the area was part of the country's continental shelf, the sloping undersea plain that runs from dry land to the deep, open ocean.
The UNCLOS provisions led to a scramble for Arctic territory. Unlike landgrabs of the past, costly scientific surveys, rather than colonization and military conquest, ensured each country a bigger slice of the pie. Even the United States invested heavily in Arctic mapping, despite continued reluctance to ratify the 1994 treaty. As of August 2009, U.S. lawmakers still hadn't ratified the UNCLOS, despite continued rumblings about doing so.
Controversy remains, however. Each country's surveying efforts naturally aim to win them as much Arctic territory as possible. And just where does one country's continental shelf end and another's begin? Take the Lomonosov Ridge, for example. This undersea mountain range crosses the Arctic between Greenland and Russia. Russia claims the area is an extension of the Asian continental shelf, while Canada and Denmark argue it's an extension of North America. It should come as no surprise that all three countries continue to produce scientific findings to back their claims.
Plus, it may be the 21st century, but dramatic displays of power still resonate strongly -- as Russia has demonstrated on several occasions. In August of 2007, much to the irritation of its competitors, Russia planted a flag on the seafloor beneath the North Pole. As if this statement weren't bold enough, the Russian military has announced plans to drop paratroopers onto the Pole. In analyzing the nation's top security threats, Russian officials went so far as designating it an area of potential military conflict by 2020 [source: Halpin].
So who owns the Arctic's oil? The answer is Canada, Denmark, Norway, Russia and the United States. The really troubling questions, however, deal with just how much of the spoils each country will claim -- and just how far they'll go to assert them.
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