The Battle for the Worldwide Natural Resources - International Strategies and Their Impacts

Research Paper (undergraduate) from the year 2010 in the subject Business economics - Economic Policy, University of Applied Sciences Essen, language: English, abstract: This assignment contemplates the discussion about the present conflict for the Arctic region, including the applicants’ claims for Arctic natural resources. The major focus of this work therefore is, as mentioned in the assignment’s subject, analysing the ‘battle for natural resources’ as well as the impact for the involved economies. During the investigation it was determined that experts of different scientific institutions do not come to the consensus about the available amount of raw materials, especially oil and gas, which are focused in this paper. Due to the scarcity of depletable resources their importance increases and with it the run for the Arctic and its treasures. Although the amount of these resources in relation to the known sources is assumed to be low, every new discovered deposit is of great importance for the potential owner and for the world economy. As the Arctic is located in the high seas, there is currently no existing legislation for the case of claiming the present resources except the admiralty law. Generally, this is a unique case in world history. Among the applicants for the different regions of the Arctic there are several conflicts about the exact borderlines.