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Exploring Energy Resource in the Arctic Ocean

Press Release October 12, 2012

The Arctic ice is melting rapidly due to climate change and global warming. The conse-quence: Oil and gas reserves on the ocean floor are becoming accessible, and Canada, USA, Russia, Norway, and Denmark have all staked a claim on them with strong interests being expressed from the European Union and China. The harsh conditions in the Arctic such as the low temperatures, icebergs and lack of infrastructure make the extraction of resources expensive and high risk.

"In the Arctic, three of the greatest challenges of our time converge: The growing need for oil and gas, climate change and the desire to safeguard resources", says Paul Berkman, Fulbright Distinguished Scholar and Research Professor at the University of California, Santa Barbara. The Arctic must therefore be viewed in a global context, also with regard to freedom and security throughout the world. "In the next 10 years sustain-able exploration and extraction of energy sources in the Arctic ocean will become a balancing act", says Berkman. National interests should be balanced with those of the world community and the interests of future generations.

How will energy from the Arctic influence the global market for oil and gas? What role can these resources play in global energy safeguarding? Is it realistically possible to extract resources without exposing the Arctic ecosystem to great dangers? How can the risk of an oil spill in the Arctic be minimised? These and further questions will be discussed at the Global Economic Symposium in Rio de Janeiro in mid-October.


“The Global Economic Symposium (GES) 2012 is being jointly organized by the Kiel Institute for the World Economy (IfW) and the Bertelsmann Stiftung, in cooperation with the German National Library of Economics – Leibniz Information Centre for Economics (ZBW) and in collaboration with the Fundação Getulio Vargas (FGV).

Further information can be found at www.global-economic-symposium.org and at the official GES-blog at blog.global-economic-symposium.org.

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