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Economics
Arctic Nations Joust But North Pole Payoff May Be Years Away
David J. Lynch
Updated on
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Obama heading to Alaska to talk climate change as ice melts
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Warming promises shipping shortcuts and energy production
Even as melting Arctic glaciers threaten to swamp shorelines, nations from Russia to the U.S. are betting that warming temperatures also will unlock trillions of dollars in new wealth.
“It is potentially the biggest strategic opportunity in America since the Louisiana Purchase in 1803,” said Scott Borgerson, a former Coast Guard officer and now an adviser at Catalyst Maritime.
