Jul 27

New ocean opening up around the North Pole is sparking a global scramble

A GLOBAL battle is underway for an ocean that sits at the top of the earth.

Over the past three decades, global warming has contributed to the melting of the Arctic, which is warming twice as fast as the rest of the world.

But while much of the globe sees this as an encroaching disaster, five Arctic nations stand to benefit from it.

As the ice continues to melt, the US, Canada, Denmark, Norway and Russia see a chance for new trade routes and potentially lucrative deals in untapped natural resources.

But one country in particular has proved it won’t back off without a fight.


There’s a lot more to the North Pole than Santa Claus.

The region is the northernmost point of the Earth’s axis, located around 725 kilometres north of Greenland.

The Arctic has been melting at an alarming rate since the 1980s due to global warming. You may find this alarming — but for five Arctic nations, it presents significant investment opportunities in the form of a brand new ocean.
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