Monday, October 10, 2005

Treasures of "Global Warming"

From the New York Times (October 10th) As Polar Ice Turns to Water, Dreams of Treasure Abound breaks a few paradigms and envisions opportunities 20 years into the future. Sen. McCain and Adm. James D. Watkins, a retired chief of naval operations who is chairman of the United States Commission on Ocean Policy, are quoted with other "boundary" country notables concerning extending rights far into the oceans.

A race is on to declare oceanic boundaries because:
+ One quarter of undiscovered oil and gas lies in the Arctic, according to the USCG;
+ Polar thaw is unlocking lucrative shipping routes, perhaps the Northwest Passage;
+ New cruise ship destinations; and
+ Important new commercial fishing zones.


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