2008-08-01

The Upside of Global Warming

From Greenland, where you would think an increase in temperatures wouldn't be such a bad thing:

"But the real promise lies in what may be found under the ice. Near the town of Uummannaq, about halfway up Greenland’s coast, retreating glaciers have uncovered pockets of lead and zinc. Gold and diamond prospectors have flooded the island’s south. Alcoa is preparing to build a large aluminum smelter. The island’s minerals are becoming more accessible even as global commodity prices are soaring. And with more than 80 percent of the land currently iced over, the hope is that the island has just begun to reveal its riches.

Offshore, where the Arctic Ocean is rapidly thawing, expectations are even higher. The U.S. Geological Survey estimates that Greenland’s northeastern waters could contain 31 billion barrels of undiscovered oil and gas. On the other side of the island, the waters separating it from Canada could yield billions of barrels more. And while Greenland is still considered an oil exploration frontier, Exxon Mobil, Chevron, Canada’s Husky Energy and Cairn Energy and Sweden’s PA Resources are aleady ramping up exploration."

What other, large, mostly covered in ice country could benefit from a bump in Celsius?

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