Passage- 4

The Arctic's vast reserves of fossil fuel, fish and minerals are now accessible for a longer period in a year. But unlike Antarctica, which is protected from exploitation by the Antarctic Treaty framed during the Cold War and is not subject to territorial claims by any country, there is no legal regime protecting the Arctic from industrialization, especially at a time when the world craves for more and more resources. The distinct possibility of ice-free summer has prompted countries with Arctic coastline to scramble for great chunks of the melting ocean.