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Business News

Aug 1
Under The Sea By Jodi LaMarco

As global temperatures rise, ice covering the arctic ocean is rapidly melting, exposing potentially oil-rich seabeds.

With the exception of the U.S., all of the countries bordering the Arctic have signed a 1982 treaty outlining rules for determining where maritime borders exist as well as guidelines for handling disputes, a necessary provision for recovering the buried oil.

Although attempts to ratify the treaty have failed in the past, the issue will be reconsidered during a senate hearing in the fall.

USA Today

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