Ice coverage on the Arctic Ocean is drastically reducing and is expected to disappear in the coming decades. Arctic’s commercial routes will become the norm for international shipping, and the whole region will transform into a new strategic arena for its numerous resources, from oil & gas to nickel, copper and uranium.
The consequences of this meltdown and the exploitation of Arctic’s resources will lead to an unparalleled ecological and environmental disaster, putting at risk the entire Earth’s ecosystem.
It will also threaten the world’s geopolitical equilibrium and exacerbate global tensions, as the control of Arctic’s assets will bring crucial advantages to countries and corporations.
While Northern Europe and China should be great beneficiaries of these evolutions, ports and trade routes in the Mediterranean Sea are expected to suffer.
The time has come for governments and companies to fully integrate Arctic’s related challenges in their long-term strategies.