Recent unexpectedly rapid melting of Arctic Ocean sea ice has captured the public imagination and created the impression of a „Race for the Arctic“. Beneath the heightened political rhetoric, national posturing and media hype about unresolved territorial claims, huge hydrocarbon resources and disappearing polar bears lies a complex and dynamic picture of disputed science, with inadequate data and unreliable predictions and increasing volatility in the energy market that is not
conducive to long term investment.
