The United States needs to develop a comprehensive strategy for the Arctic. Melting sea ice is generating an emerging Arctic economy. Nations bordering the Arctic are drilling for oil and gas, and mining, shipping, and cruising in the region. Russia, Canada, and Norway are growing their icebreaker fleets and shore-based infrastructure to support these enterprises. For the United States, the economic potential from the energy and mineral resources is in the trillions of dollars—based upon estimates that the Alaskan Arctic is the home to 30 billion barrels of oil, more than 220 trillion cubic feet of natural gas, rare earth minerals, and massive renewable wind, tidal, and geothermal energy. However, the U.S. government is unprepared to harness the potential that the Arctic offers.
The United States lacks the capacity to deal with potential regional conflicts and seaborne disasters, and it has been on the sidelines when it comes to developing new governance mechanisms for the Arctic. To advance U.S. economic and security interests and avert potential environmental and human disasters, the United States should ratify the UN Law of the Sea Convention (LOSC), take the lead in developing mandatory international standards for operating in Arctic waters, and acquire icebreakers, aircraft, and infrastructure for Arctic operations.
See full Article:
http://www.cfr.org/arctic/strategy-advance-arctic-economy/p27258
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