Staking Claim On The Last Energy Frontier

Law360, New York (April 17, 2009, 12:00 AM EDT) -- 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...
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