Clinton in Arctic to see impact of climate change [View all]
TROMSOE, Norway — US Secretary of State Hillary Clinton took a first-hand look Saturday at the way a warming climate is changing the Arctic, opening the region to competition for vast oil reserves.
Experts here estimate the value of the Arctic's untapped oil alone -- not including natural gas and minerals -- at $900 trillion, making it a huge prize for the five countries that surround the Arctic if they can reach it.
And with climate warming opening up some 46,000 square kilometres (18,000 square miles) a year that had once been bound in ice, the region is expected to burst open, not just with oil exploration but with East-West trade along a more accessible northern route.
Returning from a tour of the Arctic coastline aboard a Norwegian research trawler with scientists and government officials, Clinton told reporters that she learned "many of the predictions about warming in the Arctic are being surpassed by the actual data."