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Oil: Only part of the Arctic's massive resources

By Steve Hargreaves @CNNMoney July 17, 2012: 5:15 AM ET

NEW YORK (CNNMoney) -- When Royal Dutch Shell sinks five wells off Alaska -- slated for next month -- it will be the first drilling in U.S. Arctic waters in decades.
Yet it will be just the latest in a slow-moving but steady push to tap the Arctic's vast natural resources.......
...... Minerals and fish: In addition to oil and gas, the Arctic is is thought to contain world-class reserves of iron ore, zinc, nickel, gold, uranium, and other minerals.

Already, the world's largest zinc mine is in Arctic Alaska, while the largest nickel mine is in Arctic Russia. One estimate in a Geological Society of London paper said the mineral value in Russia alone could exceed $2 trillion.

Fishing is also an important resource in the region, and could grow as more waters become accessible and species such as cod migrate northward.
Clearly, there will be expanding uses of the Arctic as it thaws..... http://money.cnn.com/2012/07/17/news/economy/Arctic-oil/index.htm