So they came up with something...

It's OURS...My Precioussss.
With oil deficiencies and Arctic ice melting faster than ever, US and Russia (moreover than Canada, Denmark and Norway that are even larger part of the Arctic Power Circle) - are looking north to a possible energy bonanza. Scramble for buried Arctic mineral wealth made more accessible by freshly melted seas could bring on a completely different kind of cold war.
The irony is that the burning of fossil fuels is at least in part responsible for the Arctic melt. And now the Arctic melt could pave the way for a 21st century rush to exploit even more fossil fuels!!! The Arctic could hold as much as one-quarter of the world's remaining undiscovered oil and gas deposits. Russia has claimed 460,000 square miles of Arctic waters, planting its flag on the ocean floor at the North Pole last summer. Afterwards, Moscow sent strategic bomber flights over the Arctic for the first time since the Cold War. Coastal nations have sovereign rights over natural resources of their continental shelves, generally recognized to reach 200 nautical miles out from their coasts. But in February, U.S. National Oceanic and Atmospheric Administration released data suggesting that the continental shelf north of Alaska extends more than 100 nautical miles farther than previously presumed. Navigation rights became even more important as scientists last year reported the opening of the normally ice-choked waters of the Northwest Passage from the Atlantic to the Pacific.