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ALL FOR OIL: The current centre of activity in this great Arctic Gold Rush is the Barents Sea.

ALL FOR OIL: The current centre of activity in this great Arctic Gold Rush is the Barents Sea.

As Arctic ice melts, race for oil begins

The great melt is likely to yield a wealth of untapped resources. For decades people have been plundering the Arctic, but it is the race for oil and gas resources that is now causing concern. The current centre of activity in this great Arctic Gold Rush is the Barents Sea off the coast of Russia where experts say there could be as much as the equivalent of half a trillion barrels of oil.

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