June 2, 2007

Global warming means the ice caps melt

Global warming means the ice caps melt; ice cap melt to allow easier access to up to one quarter of the oil and mineral deposits lying under the poles. The Arctic is only one weeks journey time from Northern America. Currently those countries with territorial waters contiguous to the Arctic circle would seem to be discussing/negotiating under the aegis of the International Seabed Authority how to divide the future spoils by extending their national boundaries towards the North Pole.

Thus oil companies potentially can be seen as great beneficiaries of such a scenario of global warming. They might also be seen to be resistant to policies, such as renewable fuels and national self-sufficiency that reduce international trade in energy. Conversely they might like politicians that are resistant to climate change.

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