Race to the North Pole for oil and gas resources

The Arctic icecap is thinning as a consequence of global warming so the race is on to claim ownership of the rich oil and gas resources under the North Pole.

Russia is one of many nations competing to lay claim to the enormous untouched resources of the Arctic, and the rivalry is likely to increase as global warming and new technology make exploration possible.

Russia’s two deep-sea submersibles made a test dive in polar waters earlier this week ahead of a mission to be the first to reach the seabed. It took an hour for Mir-1 and Mir-2, each carrying one pilot, to reach the seabed at a depth of 1,311 meters, 87 kilometers north of Russia’s northernmost archipelago.