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China & Russia $290 Billion Arctic Cooperation | SINO SPHERE #china #russia #arctic


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The Arctic is one of the last remaining untapped areas of the world.

Its harsh climate and temperatures hostile to human life have long acted as a natural barrier to development and exploitation, but the climate crisis is fast changing this.

The disastrous effects of global warming have melted the polar ice caps and access to resources, tens of trillions of dollars worth, are tantalisingly within humanity’s grasp.

This region has fish to feed growing populations, and fossil fuels within reach in times of dwindling reserves as the global industry continues to depend on the old ways of producing energy.

Just to illustrate to you how much wealth is hidden in the arctic ice.

The undiscovered oil and gas reserves in the arctic amount to at least 412 billion barrels of oil, which is 22% of the world’s total.

The country that controls all these resources will earn an estimated $290 billion every year.

The increased international competition that this will bring has spurred military spending and the deployment of specialised forces to the region to protect claims and each country’s own interests.

The race is now on between the countries surrounding the Arctic to assert claims in the area and the vital resources beneath the ocean’s surface. Six countries surround the Arctic Ocean and they include Russia, Canada, the United States, Denmark, Norway and Iceland.

However, the country currently dominating this race is Russia.
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ATLANTIC ROAD
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