For Canada and the United States, the Beaufort basin offers unique opportunities for Alaska and Canada’s Arctic territories, says a research paper from Canada's Centre for International Government Innovation (CIGI). The Arctic is facing remarkable climatic and oceanic change that is triggering unprecedented opportunities and challenges for Arctic nations, as well as for countries that do not have Arctic territory but are eager to engage and invest in the region. The Northwest Territories’ (NWT’s) privileged resource endowment and geographic position on the Beaufort basin provide exceptional opportunities for the territory over the longer term in maritime resource development and destination and transpolar shipping as the Arctic ice cap melts.
