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Safety, Cost Meet Head On in Arctic Oil Race

By Irina Filatova / The Moscow Times

... the Arctic's maritime territories could provide the energy resources for Russia to rely on in the future, as existing reserves in Siberia are likely to suffice only for the next 40 to 50 years, according to some estimates. Although the prospects of energy-efficiency projects are widely discussed, "there's no real alternative to oil and gas for the next 20 years," Gubaidullin said. "If we don't come to the Arctic, others will do it. We should start working as soon as possible to develop...

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