Russia Claims Ownership of the Arctic and North Pole
Russia, led by President Vladimir Putin, has re-submitted its petition to the United Nations claiming exclusive control over 1.2 million square kms (463,000 square miles) of the Arctic sea shelf, based this time on what its foreign ministry calls “ample scientific data”, reports CSM and Reuters. Rich in natural resources, the Arctic is a potential arena for the clash of geopolitical interests of the Arctic states. This is the second time Russia has staked its claim to what it sees as its territory. Earlier in 2002, the UN rejected the bid on lack of evidence. The move comes in the midst of a five-way competition between Russia, Canada…
Flirting with Default, Argentina Enjoys Oil Drilling Boom
Holders of Argentina's defaulted debt and their supporters have warned the country risks being frozen out from international capital markets unless it finds a way to solve its legal problems by the July 30 deadline. But away from the bad-tempered litigation in U.S. courts, which has dominated the news about Argentina for months, the country is experiencing an oil drilling boom as international companies seek to cash on its huge shale resources. In June, there was an average of 107 rigs drilling for oil or gas in the country, the highest number operating since records began in 1982, and more than double the number at the start of 2012, according to oil field services company Baker Hughes (Chart 1). Most were hunting for oil rather than gas.
Arctic Energy Exploration: Not If, But When?
Energy exploration in the Arctic has been a hot topic in recent years and shows no signs of cooling down anytime soon. However, the United States appears stuck in neutral on the topic and those opposed to oil and natural gas exploration anywhere have used the Federal inaction to advance their arguments against any development. Whether the rest of the world’s Arctic regions will be explored is no longer a question of if, but when. While U.S. officials have stood on the edge contemplating new regulations, new requirements and litigation setbacks, other countries have moved ahead. Russia, Canada and Norway continued to advance their exploration programs in 2013, and 2014 will see more. U.S.
Arctic Energy Exploration Efforts Heat Up
Oil and gas—and also mining—are the drivers today propelling Arctic maritime operations and the construction of new vessels able to operate in extreme latitudes. While the gas and oil resources can be recovered in the Arctic or far north and shipped to markets by sea or pipeline, the cost of doing must be balanced upon the global market price for those commodities. Ships and marine structures able to operate in the harsh conditions of the extreme latitudes require special designs and construction techniques.
DOE, EPA, DOI to Partner on Oil & Gas Research
Obama Administration Announces New Partnership on Unconventional Natural Gas and Oil Research. Today, three federal agencies announced a formal partnership to coordinate and align all research associated with development of our nation’s abundant unconventional natural gas and oil resources. The partnership exemplifies the cross-government coordination required under President Obama’s executive order released earlier today, which created a new Interagency Working Group to Support Safe and Responsible Development of Unconventional Domestic Natural Gas Resources. This new partnership will help coordinate current and future research and scientific studies undertaken by the U.S. Department of Energy, the U.S. Environmental Protection Agency and the U.S.
