316 Journal of the Spanish Institute for Strategic Studies N. 3 / 2014 Energy Almost all studies on the Arctic make reference to the energy potential that lies beneath the marine subsoil. In some cases the exploitation of these resources has already begun where it is technically and economically viable, where there are no disputes over sovereignty or where these have been resolved in some way31. In spite of all the speculation, it is probable that the expectations raised by these deposits may not be materialised, or at least not to their full potential. Within the current changing world energy panorama, the appearance of new extractive technologies (or the practical application of old techniques, as is the case with fracking) have brought about substantial modifications to the balance previously in existence and to a certain extent a reversal in the upward trend of hydrocarbon prices. In the medium term, the same environmental circumstances that permit access to fossil fuels in the Arctic beds could discourage their use or render their exploitation a much less profitable endeavour than it would be at present. 3. CONCLUSIONS Climate change is a real phenomenon and is affecting the Arctic environment most especially. Although we are far from understanding the global impact of the ice-melt in the Arctic Ocean we should try to look beyond the immediate consequences that this will have on the local environment in the Polar Circle. This paper has avoided offering an explanation or analysis of the scientific and climatological factors that also have repercussions for the entire planet. We have not discussed the impact of a larger discharge of river water and the melting of the polar ice-caps on the salinity and temperature of the oceans. We have not discussed these two parameters in terms of thermohaline circulation nor its effects in turn on the climatology of many temperate or tropical countries. Neither have we mentioned the rise in world sea-levels as a result of this same additional water input. Nevertheless, all these factors will also alter the balances in existence at the present time. Entire islands or archipelagos will be submerged, displacing their populations 31 FOUCHE, Gwladys; “China, Norway may team up in search for Arctic oil”, 13 November 2013. http://www.reuters.com/article/2013/11/13/us-iceland-oil-china-idUSBRE9AC0MW20131113
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