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Arctic Ice Unleashing Scramble to Exploit Oil and Gas Deposits

(Financial Times)

For a body that has just undergone the biggest transformation in its 17-year history, the Arctic Council is hopelessly self-effacing.

Tucked away at the end of a long, dim corridor inside a building full of polar researchers in Norway’s northern city of Tromsø, it has just a handful of staff in a few temporary offices and an unpretentious meeting room.

It hardly seems much for the club of eight countries with territory inside the Arctic Circle: the US, Russia, Canada, Norway, Sweden, Iceland, Finland and Denmark, which represents Greenland.

Like so much else in the Arctic, however, this is about to change.