The arctic oil rush is on

[pscot]

Just so nobody misunderstands the deadly symbiosis of the corporate state.


http://green.blogs.nytimes.com/2010/08/04/laying-claim-to-the-rich-arctic-seafloor/

Research vessels from the United States, Canada and Russia are again steaming into the Arctic Circle this month with the aim of mapping the seafloor and laying claim to potentially vast hydrocarbon and mineral riches.

Under international law, countries can claim exclusive energy and mineral rights no farther than 200 miles offshore. Yet those exclusive claims can be vastly expanded for Arctic nations that prove that their part of the continental shelf extends beyond that zone. Already, Russia has stated that its continental shelf reaches all the way to the North Pole, although these claims have yet to be verified by the United Nations......


All three nations are preparing claims to subsea Arctic territory under the United Nations Law of the Sea, and while the United States has not yet signed that treaty, there will likely be a push for approval before 2013, the deadline for claims under the law.

According to estimates by the United States Geological Survey, as much 90 billion barrels of oil and 1,660 trillion cubic feet of natural gas remain untapped in the Arctic. The rapid melting of ice in the region attributed to climate change has raised expectations among governments and private industry for how much of those deposits might be recoverable.

With discoveries dwindling in many other parts of the world, multinational oil companies are already stepping up their own exploration efforts in the Arctic. In July, a joint venture between BP and a Canadian subsidiary of Exxon Mobil announced it would explore for oil in the Beaufort Sea — within Canada’s exclusive economic zone only, however.

[lib2DaBone]

1. ..to find new oil that will be sold on the open market to the highest bidder..

..then , of course, we will have to have an oil "shortage" at home....to get the price back up to $5 a gallon.... while Exxon-Mobile pays not one penny in taxes!

You see.. this is the way it works: "Heads they win.. tails you lose". Got it?

[Odin2005]

2. This is fucking INSANE.