The Questionable Arctic Bonanza – Exaggerated Hopes and False Images of the Arctic as ‘Prime Real Estate’ By Kathrin Keil Analyses, political statements and media stories about the Arctic are full of the high hopes of politicians and industry representatives concerning the economic potential of an increasingly ice-free Arctic. The common story about the changing Arctic is one of the expectation or even assuredness that the region will turn into an ‘economic bonanza,’ with “hungry eyes of economic powerhouses migrat[ing] north towards the lush prospects as the polar ice caps thaw.”[1] The concrete expectations usually stay as vague as this: “With the ice receding […] opportunities for profit are growing. Estimates of recoverable fossil fuels north of the Arctic Circle total approximately 13 percent of the world’s undiscovered oil and 30 percent of the world’s undiscovered gas deposits, as well as vast quantities of mineral resources, including rare earth elements, iron ore, and nickel. Establishing sea routes through the Arctic also presents a huge economic boon as it effectively cuts travel time between Europe and East Asia by over a week. Other industries such as tourism and commercial fishing likewise have immeasurable potential.”[2] The author is right by claiming that the economic potential is indeed immeasurable. It is highly uncertain if significant benefits can be reached and if they can, one must wonder exactly who will benefit and to what extent. What the article generally conveys, however, is the image of a highly lucrative Arctic with extraordinary gains to make. for more: thearcticinstitute.org/2013/09/the-questionable-arctic-bonanza.html
Posted on: Wed, 04 Sep 2013 18:28:59 +0000
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