Profiteers of Climate Change in the Arctic

Seventy percent of the Arctic’s natural gas reserves are thought to be on Russian territory. It’s no wonder then that Russia is particularly active in the Arctic at the moment. Last year a deal was announced between Rosneft, Russia’s largest state petroleum company, and ExxonMobil to extract petroleum and gas in the Arctic. Billions are to be invested in these projects over the coming years. Jonas Grätz is convinced: “Russia is one of the major winners from the situation in the Arctic.” Grätz is a scientist at the Center for Security Studies (CSS) at ETH Zurich and has just published an analysis of the conflict potential in the region.

ODAC Newsletter – Aug 3

US oil and gas reserves grew faster than at any time in the past 35 years according to figures released this week by the EIA. The numbers are for 2010 with the increase credited to fracking technology and high oil prices leading to more exploration and development. While the report will be used to provide further confirmation of a new era of energy abundance, there is growing evidence that the realities when it comes to actual production are not as rosy…