Clinton Talks Cooperation In Resource-rich Arctic
BRADLEY KLAPPER
TROMSO, Norway (AP) U.S. Secretary of State Hillary Rodham Clinton on Saturday ventured north of the Arctic Circle and urged international cooperation in a region that could become a new battleground for natural resources.
On her trip to the northern Norwegian city of Tromso, she conveyed that message of working together in one of the world's last frontiers of unexplored oil, gas and mineral deposits. The region is becoming more significant as melting icecaps accelerate the opening of new shipping routes, fishing stocks and drilling opportunities.
To safely tap the riches, the U.S. and other countries near the North Pole are trying to cooperate to combat harmful climate change, settle territorial disputes and prevent oil spills.
"The world increasingly looks to the North," Clinton told reporters after a two-hour boat tour of the nearby Balsfjord and meeting with Arctic scientists. "Our goal is certainly to promote peaceful cooperation," she said, adding that the U.S. was "committed to promoting responsible management of resources and doing all we can to prevent and mitigate the effects of climate change." At the least, the U.S. and the other Arctic nations hope to avoid a confrontational race for resources. Officials say the picture looks more promising than five years ago when Russia staked its claim to supremacy in the Arctic and its $9 trillion in estimated oil reserves by planting a titanium flag on the ocean floor. The United States does not recognize the Russian assertion and has its own claims, along with Denmark, Norway and Canada, while companies from Exxon Mobil Corp. to Royal Dutch Shell PLC want to get in on the action. China also is keeping a close eye on the region. Moscow has eased tensions somewhat by promising to press any claims through an agreed U.N. process. But Washington has yet to ratify the 1982 Law of the Sea treaty regulating the ocean's use for military, transportation and mineral extraction purposes.Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
TheStreet Quant Ratings
TRY IT FREENew! $49.95/yr
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
Product Features:
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Dividend Stock Advisor
TRY IT FREEJim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV