May 16, 2012 at 10:40 am in Lake County News-Chronicle
A new gold rush of sorts is pitting Arctic Circle countries against each other. Canada, Russia and the United States are vying for rights over vast untapped reservoirs of natural gas and oil under the arctic sea. Some estimate that 13 percent of the world’s oil reserves and a third of natural gas reserves lie under the ice cap. Because of climate change and new technologies, these once-inaccessible deposits are suddenly becoming a real option.