Now that the Northwest Passage has opened up;?

Question

What are the ramifications for the world economy,seeing container ships can now bypass Canada and Alaska and go on right to Russia instead.

Answer 1

As discussed above, the North-West Passage is a part of Canadian Internal Waters, as recently argued by Stephen Harper, and disputed by George Bush. This designation would give Canada the right to set laws, regulate any use, and use any resource within the North-West Passage, and as foreign vessels have no right of passage within internal waters then they could certainly prevent tankers from passing through, or as suggested above, set a toll.

While Canada may claim the NorthWest Passage, other countries can also lay claim to other parts of the Arctic Ocean; Russia, Canada and Denmark all claim they are physically connected to the Lomonosov Ridge, a 2,000-kilometre underwater mountain range that stretches to an area between northern Ellesmere Island and Greenland from Siberia. Norway and the US (through Alaska) also claim a wedge of the arctic pie.

For a really interesting discussion on the economic implications of an ice-free arctic, go to http://www.moneyweek.com/file/17923/who-will-profit-from-arctic-resources.html

A huge factor affecting who will profit will be the readiness of a given nation to exploit this ice-free status first. Russia is already poised with an infrastructure of shipping ports and vessels in place since the cold war. The town of Murmansk is the largest town within the arctic circle at 325,000, and once was the anchor of the soviet union's northern sea route.

Other nations will have to work rapidly to gain a competitive edge before the polar ice melts....

Answer 2

ok, so the North West passage opens yet another commerce path with Asia? nicely once you're thinking of China then it may nicely have collapsed by that component under a cloud of smog, affliction and revolution, having made too many nik-naks for the West. As for a cruise, will you have the capability to have the money for it? What with the neccessary financial and commercial 'restructuring' after the chinese language fall down. The hurrcanes beating up the Gulf coast. The oil furnish drying up as a results of fact the financial device finally runs out of puff. in the meantime the midwest runs out of foodstuff, as a results of terminal soil erosion and freak climate. No worldwide warming isn't all doom and gloom: there will be much less niavity approximately our tender western life and it will 'rebalance' the worldwide inhabitants.

Answer 3

The political and economic ramifications are BIG BIG BIG. The first "shot" in the coming battle for control of the arctic is the Russians putting their flag at the bottom of the Arctic ocean. It has no legal meaning, but the political message is clear.

Answer 4

Canada will put a big toll booth for ships at each end and make a fortune off it. It is clearly within Canadian territorial waters.

Answer 5

it means a lot less CO2 from ships, so it will help stop global warming.

it also means there maybe oil under the ice.

that would be good.

less oil burnt by ships and new deposits might mean lower gasoline prices!