This week’s decision by the Arctic Council, led by the eight nations with Arctic territory, to accept China, India, Japan and three other countries as new observers points to the region’s growing importance. It’s also a sharp reminder of the need for the U.S., the council’s biggest player, to do more to prevent a destabilizing Great Game from unfolding at the top of the world.
Smoking a Cohiba cigar inside his suite at the Visun Royal Yacht Hotel, billionaire Wang Dafu, the chairman of property developer Visun Group, gazed down at the marina he built on southern China’s Sanya Bay and described his perfect day.
James Bullard, president of the Federal Reserve Bank of St. Louis, said inflation has fallen too far below the Fed’s 2 percent goal, and a further drop could prompt increased asset purchases by the central bank.
The shrinking of Arctic ice means commercial ships may be able to sail over the North Pole as early as 2035, greatly reducing the time and cost of sea transport between Europe and Asia, according to Rear Admiral Dave Titley, who heads the U.S. Navy’s climate-change task force, the Financial Times reported.
Flint Hills Resources LLC is receiving crude at its North Pole refinery in Alaska after the Trans Alaska pipeline system started, and the plant is back in operation, Jake Reint, a company spokesman, said in a telephone interview.
Data from a U.S. spacecraft launched in 2004 to study Mercury confirmed there’s ice on the hot and airless planet’s north pole, a finding that may point to the origin of water on Earth and elsewhere, scientists said.