http://www.physorg.com/news105169027.html

Man, if Russia is that desperate for new oil / gas reserves, perhaps the world is a lot closer than even I thought to a serious decline in petroleum production. Even in heavily importing N America no-body is even willing to go onto the many landmasses of Canada which extend much closer to the North Pole than any part of Russia.

Can"t blame the Russians for the cold-war talk though. The good-old-boys in the Whitehouse are doing everything in their means to provoke it, eg. missile "defence against Iran" shields in Poland and Czeck R. We (average citizen of world) must look really stupid to them or something.

I'm not really sure how Russia or the US thinks they have a claim to that area. Only Denmark and Canada have a serious claim. The US and Russia are just childish bullies who want to get their way screaming, "MINEMINEMINE".

It does not mean that Russia is going to harvest hydrocarbons in the Arctic any time soon. IMHO what you are looking at is a land grab of the last piece of unclaimed continental shelf on the earth. Presumably it is primarily motivated by their need for a bargaining chip rather than hydrocarbon reserves.

Any claim over Antarctica is complicated by international treaties. However there is technically nothing stopping it happening at some point as the treaties are revocable. Naturally if no hydrocarbon reserves are found in Antarctica then there will be no land grab.

This article made me laugh. Obviously it's been impressed upon the world that each individual and nation must try to build the most in-your-face empire possible. Even if they only plan to use this as a bargaining tool (very possible), what are they thinking? Pretty soon when our fresh water reserves become depleted, will nations send people to claim Mars' poles, or Jupiter's moon Europa?

I'd specifically bash Russia much more, if I wasn't preoccupied with the United States and Co... Finger pointing doesn't solve any problems anyways.

How do you claim Sea Floor as territory? if it isn't immediately attached...as there is, and are International Agreements on the limitations to that right....

Doesn't the flag need be planted by hand? ( )

Why isn't it simply looked upon the same way the Antarctic is...no one owns it.

Stories like this is one reason why the notion of a N.orth A.merican U.nion N.A.U., phoneticly="Now", appeals to me. This is something that I believe the people of Earth should work together on, "Energy". Imagine, within our lifetimes, perhaps not a utopia, yet a world in persuit of one. It seems that N.A.U. is the next logical step in the formation of an Earth united.

Would it be possible for the UN to take control of the reserves? Maybe the influx of cash would give it more power.... or maybe just give everyone more reason to squabble.

But it might also set back climate initiatives, since the UN would have a vested interest in the status quo. That would be very bad.

Unfortunately the money couldn't go to the World Bank, since it's controlled by the US and Japan. That would have been the best option. Unless they decide somehow to reorganize the bank and spread the control around...