Intro (Micro Notes Format):
The Arctic Sea is estimated to hold ~13% of undiscovered oil and ~30% of natural gas reserves. Melting ice due to climate change has opened new extraction opportunities.
Economic Significance:
- Energy Security: Reduces dependency on Middle Eastern oil, diversifies sources.
- Shipping routes: Opening of Northern Sea Route cuts Europe-Asia shipping time by 40%.
- Geopolitical leverage: Arctic nations (Russia, US, Canada, Norway) gain strategic control.
- Employment & investment: Triggers infrastructure development, energy sector jobs.
- Resource boom: Access to minerals, rare earth elements alongside hydrocarbons.
Environmental Consequences:
- Oil spills: Fragile Arctic ecosystem is ill-equipped for cleanup; long-term ecological damage.
- Melting glaciers: Accelerated by drilling activity and black carbon emissions.
- Biodiversity loss: Threat to polar bears, walruses, seals, plankton – key to marine food web.
- Ocean acidification & pollution: Increased shipping and exploration may degrade water quality.
- Permafrost thawing: Releases methane → intensifies global warming.
Conclusion:
While the Arctic offers immense economic potential, its ecological sensitivity demands caution. A sustainable, globally regulated framework is essential for balancing development with preservation.
