This is the first of two Poles Apart on resources and their exploitation in the polar regions. In this first piece the resources of the Arctic region are outlined, and the major issues facing future exploitation are discussed. The next Poles Apart will be an account of Antarctic resources, including a comparison with the Arctic and an assessment of their future exploitation.
The most important economic resources in the Arctic are arguably hydrocarbons (oil and gas) of which there are major deposits in Alaska (USA), Canada, Norway and Russia. The Arctic regions contain a significant proportion of the oil reserves that lie outside the middle east. The US Geological Survey estimates that there are 90 billion barrels of oil north of the Arctic Circle — about 13% of the world total. Most of this is concentrated in just a few areas, notably Arctic Alaska and east Greenland.
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