U.S Arctic Marine Transportation System

By Finance

 The United States is near the Arctic. Global warming and climate changes will determine opportunities for commerce and economic growth. The Arctic is one of the areas in the Earth with fast warming. Ice will decrease and will allow people finally to explore the region.

What benefits to consider?
At first place there are always risks but beyond that opportunities for development will emerge. Alaskan coast will give more chances marine resources to be explored.

People living in the area will benefit from natural process of warming.
Marine transportation will be crucial for the future of the Arctic. There will be a need for United States Marine Transportation System (MTS).

The Arctic is a region covered with ice and snow but only during the winter, in the summer there are large areas with trees, plants and shrub. Nature has to be protected of future activities. The international Arctic Council represents 8
circumpolar states (Canada, Denmark, Finland, Iceland, Norway, Russia, Sweden, and the United States) and will focus on marine transportation, environmental protection, and sustainable Arctic development.

US Committee on the Marine Transportation published a report:
"US Arctic Marine Trasportation System: Overview and Priorities for Action 2013" describes the 16 elements of the US Arctic Marine Transportation System (MTS), identifies current and planned federal activities, including milestones and timeframes, in support of the Arctic MTS and calls for the CMTS to take a leadership role to oversee, coordinate, and manage these actions in collaboration with other stakeholders".

Natural resources of the Arctic
Arctic is rich on mineral and animal resources. The region has significant amounts of minerals, boreal forest, marine life and fresh water. Zinc, Iron and gold mines will be developed for economic growth and export.
Fishing will be growing as the warming grows.

The Arctic definitely will benefit the countries near the area. Millions of jobs will be created, we will see growth in the marine industry, maritime transportation, more goods, development of trade.