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The Arctic has significant potential in natural gas, oil, and other raw materials. The development of fields requires enormous investments and technical skill. The predicted decrease in ice in the wake of climate change could benefit the exploration for and extraction of these raw materials. However, due to the sensitive ecological system, the highest environmental standards are to be applied. The greatest share of deposits is located in areas whose legal status has been clarified. The idea of a conflict over the resources is exaggerated. In fact, the situation lends itself to the joint extraction of resources. Adapted from the source document.

Europe's energy supply is highly dependent on imports. In 2000 approximately 45% of the raw materials needed to supply energy were imported; according to the EU's Green Book this proportion will rise to about 63% by 2030. As this happens the import dependence for oil will rise to almost 80%, & for natural gas to approximately 70%. The extraction of oil & natural gas from the North Sea will decline in the years to come, & the demand for natural gas is expected to rise steeply; among the reasons for this are the decision to phase out nuclear energy & the comparatively high level of emissions from coal-fired power stations. The combination of these factors will pose new challenges as Europe attempts to meet its growing energy needs. 7 Tables, 7 Figures. Adapted from the source document.