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Greenland the focus of global oil hunt

With the world running out of oil and the search on for other rare resources, new importance is being placed on the vast frozen territory around the North Pole. The pristine but shrinking ice of the Arctic could hold up to 20 per cent of the world's untapped wells of oil and gas. A group of British cartographers has drawn up a new map to try and determine who owns what, and it seems Denmark may have the most solid claim on the North Pole, through its territory of Greenland. Russia has already sent a submarine to plant a flag on the seabed underneath the North Pole. Canada is building two military bases in the far north, and Norway has also submitted a formal claim. Under international law, claims have to be backed up with geological surveys on land and under water. So the better these maps get, the more competing nations will... [read full story]                    

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