FILE - In this Aug. 15, 2019, file photo, a large Iceberg floats away as the sun sets near Kulusuk, Greenland. As warmer temperatures cause the ice to retreat the Arctic region is taking on new geopolitical and economic importance, and not just the United States hopes to stake a claim, with Russia, China and others all wanting in. (AP Photo/Felipe Dana, File)

World powers increasingly see icy Arctic as a hot property

August 22, 2019 - 2:08 pm

TASIILAQ, Greenland (AP) — A frozen wasteland with an inhospitable climate? Or a strategic outpost with vast resources of oil, natural gas and rare earths just waiting to be tapped as the ice recedes and reveals the treasures?

As warmer temperatures cause the ice to retreat, Greenland and the rest of the Arctic region are taking on new geopolitical and economic importance.

As melting ice opens shipping lanes and reveals incredible riches, the United States, Russia, China and others all want in.

But experts still caution that the race to the Arctic will be an incredibly challenging marathon, not a sprint.

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