Will Global Warming Cause Economic Growth? Bobby Gregory.

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Presentation transcript:

Will Global Warming Cause Economic Growth? Bobby Gregory

Possible Economic Benefits (Arctic) Shipping (Northwest/Northeast Passage) Agriculture (Barley 32 degrees) Access to Petroleum and Natural Gas Reserves Fishing -2 degrees) Lower heating costs in cold regions Arctic Tourism Coal (Svalbard) Diamonds (De Beers) “Green” Energy Technology Investment

Arctic Nations Norway Sweden Finland Denmark Iceland Canada Russia United States

Disputes over Arctic Territory No Agreement Similar to Antarctic Treaty Sector Line Principle (US, Norway, Russia?) Median Line Principle (Denmark, Canada) Exclusive Economic Zones (200 Nautical Miles) Continental Shelf Mapping (Cryosat, Subs, UN) Bering Sea (Russia/US) Beaufort Sea and NW Passage (US/Canada) Hans Island (Denmark/Canada) Fishing Case, Svalbard Islands (Spain/Norway)

Exclusive Economic Zone (Current)

Median Line Principle

Sector Line Principle

Oil and Natural Gas 25% of untapped resources are in the Arctic. With a population of 4 million, Arctic Region is more stable than Middle East. Shtokman Oil Field (1,400 square miles) Hammerfest (Liquefied Natural Gas)

Shipping Churchill, Manitoba, Canada Murmansk, Russia 40% reduction in costs and time to transport raw goods (Northeast Asia, Europe, Canada) Aker Finnyards (shipbuilding company in Helsinki) is producing ice-hardened transport $90 million each.

Churchill, Manitoba (Canada) Purchased for $7 in 1997; $50 million invested by Omnitrax (US Railroad company).

Murmansk, Russia

Barley in Greenland

Hammerfest, Norway Cod Fishing and Natural Gas

Questions?