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...August, a wisp of flame suddenly appeared in the Arctic twilight over the Barents Sea, bathing the low clouds over the Norwegian port of Hammerfest in a spectral orange glow. With a tremendous roar, the flame bloomed over the windswept ocean and craggy gray rocks, competing for an instant with the Arctic summer's never-setting sun. The first flare-off of natural gas from the Snohvit (Snow White in Norwegian) gas field, some 90 miles (145 km) offshore, was a beacon of promise: After 25 years of false starts, planning and construction, the first Arctic industrial...

Author: /time Magazine | Title: Fight for the Top of the World | 9/19/2007 | See Source »

...outdone - the U.S. Coast Guard dispatched the cutter Healy on a similar mission north of Alaska. The flurry of activity has prompted the Senate Foreign Relations Committee to schedule hearings this month to push for U.S. ratification of the international treaty on the Law of the Sea, which came into force in 1994. Ratification of the treaty has long been opposed by conservatives, who consider it a shackle on U.S. sovereignty, but it now has the support of the Bush Administration, largely because its terms would allow Washington to weigh in with its own claims in northern waters...

Author: /time Magazine | Title: Fight for the Top of the World | 9/19/2007 | See Source »

Kalluk and his people will just have to adjust, but the polar bears may not be able to. A recent study by the U.S. Geological Survey (USGS) predicts that shrinking sea ice will mean a two-thirds reduction in their population by midcentury. Not even strict adherence to the Kyoto accord on limiting greenhouse gases would stop an Arctic meltdown, which means the Arctic, like nowhere else on Earth, is a place where efforts to mitigate global warming have yielded to full-bore adaptation to its impact. That process is freighted with irony. With gas and oil prices near historic...

Author: /time Magazine | Title: Fight for the Top of the World | 9/19/2007 | See Source »

...While the assessment of the region won't be finished until next year, Don Gautier, one of the survey's principal investigators, says, "there's no doubt that certain geologic provinces in the Arctic have significant oil and gas reserves." Some of the most attractive are in the Barents Sea. In Russian waters, east of Norway's Snohvit deposit, lies the Shtokman gas field, thought to be 10 times as big. Granted, not everyone is convinced that the Arctic will be Big Oil's new savior. A study by energy consultants Wood Mackenzie and Fugro Robertson concluded last year that...

Author: /time Magazine | Title: Fight for the Top of the World | 9/19/2007 | See Source »

...thing to covet the resources that may now be accessible in the Arctic. It's another to establish a legal claim to them that others will recognize. Under the provisions of the U.N. Convention on the Law of the Sea (UNCLOS), a country has exclusive economic rights to the sea's resources within 200 nautical miles (230 miles, 370 km) of its coast. The treaty provides for extending that limit up to 350 nautical miles if a country can prove that its continental shelf extends from the coastline beyond the current limit. That explains the rush by Russia, Denmark...

Author: /time Magazine | Title: Fight for the Top of the World | 9/19/2007 | See Source »

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