World Leaders Eye Greenland

World powers increasingly see icy Arctic as a hot property

AP News
August 22, 2019 - 2:17 pm

(AP Photo/Felipe Dana, File)

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By DAVID RISING and SETH BORENSTEIN Associated Press   

TASIILAQ, Greenland (AP) — A frozen wasteland with an inhospitable climate? Or a strategic outpost with vast resources of oil, natural gas and rare earths just waiting to be tapped as the ice recedes and reveals the treasures?

As warmer temperatures cause the ice to retreat, Greenland and the rest of the Arctic region are taking on new geopolitical and economic importance.

As melting ice opens shipping lanes and reveals incredible riches, the United States, Russia, China and others all want in.

But experts still caution that the race to the Arctic will be an incredibly challenging marathon, not a sprint.