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Climate Change, Conflicts and Cooperation in the Arctic: Easier Access to Hydrocarbons and Mineral Resources?

Climate Change, Conflicts and Cooperation in the Arctic: Easier Access to Hydrocarbons and... <jats:sec><jats:title>Abstract</jats:title><jats:p>Global mineral and hydrocarbon commodity markets have been marked by substantial price increases since 2003. Because of the long lead times of raw materials extraction projects (the time period from exploration to the start-up of production), market observers anticipate a sustained period of high prices, which is likely to last several more years. These high market prices make the extraction of raw materials in frontier areas like the Arctic increasingly interesting. This is even more the case given that the retreat of the Arctic ice cap, due to the warming of the climate in recent decades, could make it substantially easier to develop deposits of raw materials. In addition, the northern sea routes—both the Northeast and Northwest Passages—could be used to create new infrastructures for international trade flows and to tap new opportunities for maritime commerce. Given the significant economic potential of the Arctic, it is essential for all stakeholders to build stronger networks and to establish structures for communication and the settlement of disputes.</jats:p> </jats:sec> http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The International Journal of Marine and Coastal Law Brill

Climate Change, Conflicts and Cooperation in the Arctic: Easier Access to Hydrocarbons and Mineral Resources?

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Publisher
Brill
Copyright
© 2009 Koninklijke Brill NV, Leiden, The Netherlands
ISSN
0927-3522
eISSN
1571-8085
DOI
10.1163/157180809X421798
Publisher site
See Article on Publisher Site

Abstract

<jats:sec><jats:title>Abstract</jats:title><jats:p>Global mineral and hydrocarbon commodity markets have been marked by substantial price increases since 2003. Because of the long lead times of raw materials extraction projects (the time period from exploration to the start-up of production), market observers anticipate a sustained period of high prices, which is likely to last several more years. These high market prices make the extraction of raw materials in frontier areas like the Arctic increasingly interesting. This is even more the case given that the retreat of the Arctic ice cap, due to the warming of the climate in recent decades, could make it substantially easier to develop deposits of raw materials. In addition, the northern sea routes—both the Northeast and Northwest Passages—could be used to create new infrastructures for international trade flows and to tap new opportunities for maritime commerce. Given the significant economic potential of the Arctic, it is essential for all stakeholders to build stronger networks and to establish structures for communication and the settlement of disputes.</jats:p> </jats:sec>

Journal

The International Journal of Marine and Coastal Law – Brill

Published: Jan 1, 2009

Keywords: RESOURCE DEPOSITS; MINERAL RESOURCES; ARCTIC RESEARCH; METALS; MINERAL POTENTIAL; RAW MATERIAL EXTRACTION; HYDROCARBON POTENTIAL

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