There is plenty of hype around business potential in the Arctic and how new shipping routes will change global trade patterns.
About a third of the world’s undiscovered gas and an eighth of its oil lie in the far north. And abundant hydropower and geothermal energy in countries from Norway and Sweden to Iceland and Greenland mean it is the perfect place to position data centres and other electricity-hungry industries.
But the pace of change in the polar region is often slow, dare one say glacial, despite it being the fastest-warming region in the world. For instance, take a look at US President Donald Trump’s recurring obsession, Greenland, where no oil and few minerals are being exploited despite decades of exploration.
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