5 countries convene to discuss Arctic claims

09/22/2010 | BBC

Representatives from Russia, Canada, Norway, Denmark and the U.S. are meeting in Moscow to discuss their respective claims on the Arctic -- where it is thought that 25% of the world's oil reserves are buried. The accelerated melting of the polar ice cap has exposed ocean floor and new possibilities for drilling as well as political conflicts among the countries with Arctic borders. Russia has even planted a flag on the ocean floor under the North Pole to signify its claim on the area -- a claim that has been rejected by the UN for lack of evidence.

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