Who Owns the North Pole?

[Draggingtree]

Mises: Who Owns the North Pole?

APRIL 7, 2015Benjamin M. Wiegold

TAGS Legal SystemWorld HistoryPrivate Property

 

The battle for the North Pole is snowballing between national governments along the Arctic Circle, as they all have their eyes set on the vast natural resources residing in the Arctic region. Indeed, it’s estimated the Arctic Ocean floor contains 22 percent of all unused oil and natural gas in the world — the largest remaining untapped concentration. From this year until 2017, the US will hold the chair of the Arctic Council (AC) — an international forum founded in 1996, comprised of member states Canada, Denmark, Finland, Iceland, Norway, Russia, Sweden and the US.The purpose of the AC is to

 

“provide a means for cooperation, coordination, and interaction among the Arctic States … [and] Arctic Indigenous communities … [for addressing] issues of sustainable development and environmental protection …”