Clinton Tours Arctic, Vies for Oil & Gas

By Admin
Secretary of State Hillary Clinton boards a research ship to tour the Arctic today, reiterating US interests in the vast deposits of oil, gas and min...

 

 

Secretary of State Hillary Clinton boards a research ship to tour the Arctic today, reiterating US interests in the vast deposits of oil, gas and minerals becoming available as the polar ice recedes due to climate change.

"From a strategic standpoint, the Arctic has an increasing geopolitical importance as countries vie to protect their rights and extend their influence," Clinton told reporters in Oslo before making the nearly two-hour flight north to Tromso. 

"We want to work with Norway and the Arctic Council to help manage these changes and to agree on what would be, in effect, the rules of the road in the Arctic, so new developments are economically sustainable and environmentally responsible," she added.

The Arctic holds around 13 percent of the world's undiscovered conventional oil and 30 percent of its undiscovered natural gas, according to estimates from the U.S. Geological Survey. On the other hand, energy development costs in the area could be twice as high as conventional onshore resources.

SEE OTHER TOP STORIES IN THE ENERGY DIGITAL CONTENT NETWORK

Mongolia's Mining Boom: Oyu Tolgoi and Tavan Tolgoi

This Valentine's Day: Red Roses and Blood Diamonds?

Read more in May's issue of Energy Digital: The Military Edition

Trade routes between Europe and Asia will shorten as the ice melts, cutting off thousands of miles worth of travel.

Environmentalists fear the pursuit of areas the oil and gas industry has little experience in creates a risk of uncontrolled development. An eight-nation Arctic Council is being established in Tromso to manage the new opportunities in a responsible way.

Clinton told reporters that it is important for nations to “begin working together to make plans for what will most certainly become greater ocean travel, greater exploration, therefore greater pollution, greater impact on human beings.”

 

DOWNLOAD THE ENERGY DIGITAL IPAD APP

 

 

Share

Featured Articles

Is Volcanic Ash an Answer to Efficient Solar Energy Storage?

Volcanic ash, typically seen as a disruptive force, is now hailed by University of Barcelona researchers as a valuable energy storage medium

EY: How CEOs are Pushing Energy Transition Priorities

EY’s CEO Outlook Pulse report says execs at the helm of businesses are acknowledging and embracing the necessity of the energy transition to sustainability

Reducing Low-Carbon Hydrogen Costs Key to Decarbonisation

Capgemini’s low-carbon hydrogen whitepaper emphasises the need for collaboration to make low-carbon hydrogen a viable decarbonisation tool

Sustainability LIVE Among World’s Top Sustainability Events

Sustainability

Microsoft & Brookfield Sign World’s Biggest Clean Power Deal

Renewable Energy

Accenture: Human-Centric AI Transforms the Energy Industry

Technology & AI