IT’S THE COLDEST PLACE ON EARTH.
FEATURING TEMPERATURES WELL BELOW MINUS 100 DEGREES FAHRENHEIT, THE BARREN CONTINENT OF ANTARCTICA IS HOME TO ONE OF THE WORLD’S MOST VALUABLE RESOURCES.
AND RUSSIA MAY BE WILLING TO DECIMATE THE ENVIRONMENT AND BREAK INTERNATIONAL TREATIES TO GET IT.
HERE’S WHAT’S GOING ON:
RUSSIAN RESEARCH VESSELS REPORTEDLY DISCOVERED OVER 500 BILLION BARRELS OF OIL IN ANTARCTICA.
VALUED AT NEARLY 41 TRILLION DOLLARS, IT’S ROUGHLY 10 TIMES GREATER THAN THE ENTIRE 50 YEAR OUTPUT OF THE NORTH SEA-
WHICH CONTAINS MOST OF THE PLANET’S OIL RESERVES.
SURVEY WORK ISN’T ILLEGAL BUT DRILLING IS – AND EUROPEAN POLICYMAKERS ARE RAISING CONCERNS ABOUT RUSSIA’S INTENTIONS.ANY WORK TO GET THAT OIL WOULD BE A BREACH OF THE 19-59 ANTARCTIC TREATY, WHICH PLACED A PERMANENT BAN ON MINING IN THE REGION.
SCIENTISTS SAY DRILLING WOULD CAUSE SIGNIFICANT DISTURBANCES AND IRREVERSIBLE DAMAGE TO THE ENVIRONMENT.
WHILE MOSCOW CONTROLS ENOUGH OIL ALREADY TO KEEP ITSELF SUPPLIED FOR THE NEXT 60 YEARS, ECONOMISTS SAY THOSE RESERVES MIGHT BE DWINDLING.
THEY BELIEVE EVEN A DROP OF JUST FIVE DOLLARS IN THE PRICE OF OIL PER BARREL COULD COST RUSSIA ALMOST 11 BILLION DOLLARS.
WITH AN ONGOING WAR IN UKRAINE AND THE RESULTING WESTERN TRADE SANCTIONS FURTHER LIMITING THEIR OIL SUPPLY-
RUSSIAN OFFICIALS MAY EVENTUALLY SEE MINING ANTARCTICA AS A NECESSARY SOLUTION.
JACK AYLMER – STRAIGHT ARROW NEWS.