Natural resources of the Arctic
Natural resources of the Arctic are the mineral and animal resources within the Arctic region (sometimes defined as north of the Arctic Circle) that provide or have potential to provide utility or economic benefit to humans. The Arctic contains significant amounts of minerals, boreal forest, marine life and fresh water.
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[edit] Hydrocarbons
The United States Geological Survey estimates that 22 percent of the world's oil and natural gas could be located beneath the Arctic.[1]
[edit] Fisheries
The range of some sub-Arctic fish stocks is likely to extend into Arctic areas due to climate change, and decreasing ice-cover will likely lead to more fishing activity. Scientific understanding of Arctic fish populations is limited and needs to be studied before increased Arctic fishing occurs.
In the area of the Arctic north of the Atlantic, extensive commercial fisheries and international managerial mechanisms already exist. North of the Bering Strait, there are currently no significant commercial fisheries and no international management mechanisms.
