Increase in oil

Due to the recent effects of global warming many countries including the United States are beginning to lay claim to parts of the North Pole Region. It is thought that when the full effect of global warming is complete, the region will be rich in oil. This is significant in that no longer will countries that border the region have to rely solely on the Middle East for oil production. It is a well-known fact that there is oil in this region but due to the existence of ice caps the access to the oil is limited. Global warming has been seen as a negative to the economy of the world, especially with the thoughts that it is to blame for the amount of hurricanes that have occurred this year. Now it will be seen as a source of economic growth if the ice continues to melt.