| Abstract |
A map showing Trans-Arctic sea routes - The Northwest Passage, The Transpolar Route, and The Northern Sea Route. Numerous scientific studies, assessments, and government reports have documented the environmental changes occurring in the Arctic, which can create both economic opportunities and environmental challenges. As Arctic waterways become more accessible with the declining extent in sea ice coverage, the region has attracted greater global attention for its economic opportunities. It contains an estimated 13 percent of the world's undiscovered oil, 30 percent of undiscovered gas, and some $1 trillion worth of gold, zinc, nickel, and platinum. Melting sea ice could also increase the use of three trans-Arctic routes—the Northern Sea Route, Northwest Passage, and Transpolar Route—saving several thousands of miles and several days of sailing between major trading blocs (USGAO). |