will increase by 40%, oil - by 36%. The Arctic shelf is the largest and still the only source of undiscovered hydrocarbons …. According to the U.S. Geological Survey, the share of the Arctic shelf is about one-fifth of all undiscovered recoverable oil … and gas reserves in the world. Most of these potential resources are located on the Russian part of the Arctic shelf …

Events shape and in turn are shaped by developments in Arctic ocean policy. Nowhere is this truer than of the ever …-changing Arctic environment, which is in turn shaping and being shaped by a global demand for secure sources of future oil and natural … gas supplies. As the polar ice cap progressively shrinks, and industry interest in the Arctic quickens, Canadians are …