The U.S. Geological Survey estimates that 90 billion barrels of oil, 44 billion barrels of natural gas liquids and 1,670 trillion cubic feet of natural gas are recoverable in the frozen region north of the Arctic Circle. And the fight over who owns those resources may turn out to be the most important territorial dispute of this century. Russia, Canada, the United States, Denmark, Norway, Sweden, Iceland and Finland all have a stake in the Arctic’s icy real estate. But both the exploration, and the likely drilling at the top of the Earth, have scientists deeply concerned. One reason: Global warming has hit the Arctic’s plant and animal life ferociously. The stresses and possible pollution caused by drilling only increase the risks. "The ecosystem that is there has been protected by thousands of years of ice. Even if there was no territorial dispute, the ice is going away," said oceanographer David Carlson, director of the International Polar Year’s Program Office. ……………con’t http://www.cnn.com/2009/TECH/science/01/02/arctic.rights.dispute/index.html