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Who owns the arctic
The arctic is a very cold part of the world and it holds 160 billion barrels of oil and 30% of the worlds undiscovered natural gas. But who owns all of this and are they allowed do drill for this?
There are eight countries which own a part of the territory or territorial waters in the Arctic Circle. Those countries are Norway, Russia, Sweden, Finland, Iceland, Canada, the US and Greenland which is a part of Denmark.
For the Arctic there is no international treaty project because it is mostly sea. The discussion about who can drill in the Arctic is coming up again because the ice melts and makes drilling easier due to the global warming.
Russia is drilling in the arctic for more than a decade and the US now is proposing to let their oil companies drill in northern Alaska.
Every country with territory in the Arctic has rights over the sea-floor near their shores. In their zones they have the rights to fish, build and extract natural resources. Canada, Russia and Greenland are now fighting peaceful about an undersea mountain chain which is 1800 kilometers long which would give the country which wins new 55.000 square miles of sea around the north pole.
So the arctic is part of some countries and still is not owned by anybody. Many countries still think of owning the arctic and have the right of drilling there which would cause a way faster melting of the arctic ice.